East Rutherford LLC is a partnership consisting of Prime Hospitality Corp. of Fairfield, NJ, which has a 40% interest; United Capital Corp. of Great Neck, NY, also 40%; and the New York-based Ark Investment Partners, 20%. Prime and United acquired the asset last December and subsequently added Ark to the partnership mix.
Prime also manages the landmark hotel for the partnership. Built in 1986, the Sheraton Meadowlands sits directly opposite the Meadowlands Sports Complex's Giants Stadium. The property includes a total of 50,000 sf of meeting space.
Prime Hospitality owns and manages more than 240 hotel properties, both under its Prime, AmeriSuites and Wellesley Inns brands, and for such national chains as Sheraton, Hilton, Radisson and Holiday Inn.
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