HREC Investment Advisors sells Radisson WorldGate

ORLANDO – HREC Investment Advisors announced the recent sale of 426-guestroom Radisson WorldGate Resort Hotel in Kissimmee.

HREC represented the seller, Lamco, LLC, a subsidiary of Lehman Brothers Holdings Inc. The sale was handled by Paul Sexton, vice president in HREC Investment Advisors’ Orlando office, and Scott Stephens, an HREC principal and head of the firm’s Southeast practice.

The hotel is near the I-4/US 192 interchange, just minutes from world-famous Walt Disney World. The property features 25,000sf of meeting space, two swimming pools and a variety of sports courts, among other amenities.

“With marketwide RevPAR up 14% year-to-date, we are definitely starting to see a lot more interest on the part of investors in the Orlando market,” said Sexton. “We are getting excellent traction on all of our listings in the area from both institutional players and private equity.”

The transaction was complicated by the fact that the property has been partially converted to timeshare under previous ownership and, as such, included the conveyance of certain unsold timeshare interests, as well as a portfolio of timeshare receivables.

Radisson WorldGate Resort Hotel features 25,000sf of meeting space, two swimming pools and a variety of sports courts, among other amenities.

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