TAMPA, FL— The Plasencia Group (TPG) has completed the sale of the mortgage note and fee-simple interest in the Dedham Hilton Place in Dedham, MA. TPG represented TIAA/CREF in the sale of this instrument to Cranston, RI-based The Procaccianti Group. In line with the marketing campaign conducted by TPG, TIAA/CREF selected a purchaser for the note and— concurrent with the note acquisition— the purchaser negotiated the acquisition of the fee-simple interest in the hotel from the owner and former borrower. It was noted that the transaction closed while successfully maintaining pre-Sept. 11 pricing.
Previous ArticleThird Homewood Suites In Richmond Area
Next Article Wyndham Names Director, Business Travel Sales