SCOTTSDALE, AZ-KSL Capital Partners LLC, a hotel investor basedin Denver, has acquired InterContinental Montelucia Resort &Spa, a 293-room resort in Scottsdale near Phoenix, forapproximately $115 million from the lenders. The investor paidnearly $115 million to five banks, headed by Germany's Eurohypo AG,that foreclosed on the resort two years ago.
The Montelucia, opened in November 2008, comprises guest roomsmeasuring 500 square feet each. Eastdil Secured represented theEurohypo-led banks in the sale.For the full story, go toWall Street Journal.
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