Thrusday, January 07, 1999
Sharonville complex lands first hotel
BY PERRY BROTHERS
The Cincinnati Enquirer
A look at a notable real estate deal in the Tristate:
Transaction: First hotel signs at Summit Woods development in Sharonville.
Price: $1.6 million.
Buyer: Bradford Home Suites (Intervest Investment Group).
Seller: Equity Group LLC.
Brokers: Art Calamari, of the Bergman Group, represented the seller.
Property description: In May, Equity Group paid about $4 million for the 48-acre property at Reed Hartman Highway and Interstate 275, known now as Summit Woods. Equity Group's plans include about 500,000 square feet of office space, another hotel and 1 to 2 acres of retail.
Behind the deal: Bradford Home Suites will develop a three- to four-story, 130-room hotel at the site. The hotel is scheduled to open this fall.
Equity Group member Fred Skurow said the investment group is in discussions with another company to bring a second hotel to Summit Woods.
Perry Brothers covers commercial real estate and compiles Prime Deal weekly for the Enquirer. She can be reached at 768-8503.
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