![]() Actual results could differ materially from the Company's projections. These forward-looking statements include statements regarding the Company's future financial results, positive trends in the lodging industry and the Company's continued focus on improving profitability. Except for historical information, the matters discussed in this press release are forward-looking statements subject to certain risks and uncertainties. This press release contains forward-looking statements about Strategic Hotels & Resorts, Inc. and international real estate, including the development and acquisition of office, hotel, retail, industrial, multi-family, for-sale residential, senior and student housing, gaming and other assets through both individual, portfolio and company-level transactions with a gross asset cost of over $21 billion. Through its affiliates, Walton Street has invested and/or committed to invest $7.5 billion of equity in more than 275 separate transactions in U.S. ![]() Since its founding in 1994, affiliates of Walton Street have received total equity commitments of over $8.3 billion from public and corporate pension plans, foreign institutions, insurance companies and banks, endowments and foundations, trusts, and high net worth individuals. (" Walton Street") is a private equity real estate investment firm based in Chicago. For a list of current properties and for further information, please visit the Company's website at. The Company currently has ownership interests in 16 properties with an aggregate of 7,865 rooms and 835,000 square feet of meeting space. is a real estate investment trust (REIT) which owns and provides value-enhancing asset management of high-end hotels and resorts in the United States and Europe. We have long enjoyed a successful relationship with the Four Seasons, one of the world's premiere luxury lodging brands, and we are excited to begin this new chapter with the Four Seasons at Troon North." "The resort is poised to continue to benefit from the positive Scottsdale market dynamics and includes significant value-enhancing opportunities to hotel operations and potentially through the future addition of hotel keys and amenities on two vacant and entitled adjacent parcels of land. "Rip" Gellein, Chairman and Chief Executive Officer of Strategic Hotels & Resorts, Inc. "We are thrilled to be acquiring the Four Seasons at Troon North, a preeminent luxury resort located in the exclusive Troon North development in Scottsdale, Arizona, and expanding our presence in this market characterized by high demand and constrained supply," commented Raymond L. The purchase price, net of the allocated land value, represents a 13.4 times multiple on forecasted 2015 EBITDA and a 6.0 percent capitalization rate on forecasted 2015 NOI. The Company forecasts the property will contribute approximately $10.0 million of EBITDA and $8.0 million of NOI in 2015. Four Seasons will continue to manage the property subsequent to the closing of the acquisition. ![]() The hotel features 22 suites, 24,000 square feet of indoor meeting space, a 14-treatment room spa, four food and beverage outlets and contractual access to 36 holes of championship golf at the adjacent Troon North Golf Club. The 210-guestroom, AAA Five Diamond destination resort is located on approximately 40-acres in the northern region of Scottsdale, Arizona. The acquisition, which is expected to close during the fourth quarter of 2014, remains subject to customary due diligence, closing conditions and working capital adjustments. Management has valued the land parcels at $6.0 million. for $140.0 million, which includes 13.8-acres of developable land zoned for an additional 88 hotels keys and potential incremental residential usage. (NYSE: BEE), today announced that the Company has signed an agreement to acquire the Four Seasons Resort Scottsdale at Troon North from an affiliate of Walton Street Capital, L.L.C. 18, 2014 /PRNewswire/ - Strategic Hotels & Resorts, Inc.
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