Thrusday, January 07, 1999

PRIME DEAL


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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