Sonnenblick on land acquisition spree
12 December 2011 7:44 AM By Shawn A. Turner
Sonnenblick Development LLC used US$100 million raised in an equity fund to acquire seven tracts of land to be used for resort hotel developments.
The economic downturn provided an opportunity for Sonnenblick to go on its buying spree.
The US $25 billion of CMBS debt scheduled to mature in 2012 could hinder the industry’s comeback.
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