Ordevco has owned the property since it was developed in twophases in 1987 and 1991 by Houston-based Intergroup Realty Inc.Intergroup president Tandy O. Lofland, who arranged the sale andnegotiated for the seller, identified the buyer only as a US realestate investment fund that represented itself in thetransaction.

The property was on the market for 2.5 months and took 75 daysto complete, from contract signing to closing, Lofland tellsGlobeSt.com. Occupancy at closing was about 75%. The resort isbeing sold at this time "to redeploy the owner's equity to otheropportunities," Lofland says.

The Radisson is surrounded by seven man-made lakes on 21landscaped acres. The resort has 7,000 sf of meeting space, twolarge pools, a full-service restaurant, deli, sports lounge and afull complement of recreational amenities, Lofland says. Anextensive renovation of the resort was completed in 2001.