FCA Group Adds Collection of 12 Premium New England Hotels to its Portfolio
MIAMI, September 10, 2014 /PRNewswire/ --
Libra Group subsidiary announces consolidation of Libra's North American hospitality assets into its real estate investment and property management arm
FCA Group, the North and Central American real estate investment and property management arm of the Libra Group, has announced the acquisition of all of its parent company's North American hotels for its portfolio of hotel and hospitality assets.
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In addition to its current assets, FCA will now own 12 premium hotels in Connecticut, New Hampshire, Rhode Island, Massachusetts, Vermont and Maine. The properties include the iconic White Barn Inn in Kennebunk, Maine; The Vanderbilt Grace in Newport, Rhode Island, and The Mayflower Grace in Washington, Connecticut. The hotels are managed by New England specialist management company Hay Creek Hotels, and FCA's sister company, the international luxury boutique hotel group, Grace Hotels. Three of the properties are part of the exclusive Relais & Châteaux collection of the finest hotels and gourmet restaurants in the world.
FCA's approach to the hospitality sector involves identifying and acquiring premium properties, supporting the development process as necessary and working with the most appropriate hotel management company for each property. FCA is also able to provide advisory services for hotel developments and recently supported Grace Hotels in the creation of the newly-built Grace Panama in the heart of Panama City.
Commenting on the acquisitions FCA's CEO, Frank Espinosa, stated: "This move is designed to consolidate real estate ownership in the hands of our expert team that can provide investment management, property management and where necessary, co-ordination of the hotel development process. We continue to look for complementary hospitality acquisition opportunities throughout the USA and Central America."
About FCA Group
FCA Group (http://www.fcagrp.com) is the North and Central American real estate investment and property management arm of the Libra Group. Since 2006, its real estate transactions have resulted in a comprehensive commercial, hospitality and residential property portfolio in key cities such as Miami, Tampa, New York, Los Angeles, Las Vegas and Panama City, Republic of Panama. FCA Group actively targets properties where it can add value through recapitalization and superior hands-on management, while maintaining a careful balance between location, property and tenant types.
About The Libra Group
The Libra Group (http://www.libra.com) is an international business group with principal operations in shipping, aviation, real estate, hospitality and energy as well as a range of diversified investments. The group which is owned by the Logothetis family comprises 30 subsidiaries operating across five continents. Libra is distinguished by a combination of traditional values, new ideas and an agile mindset that allows it to take advantage of opportunities.
For further information, please contact:
Silvio Marcacci for FCA
+1-(202)-643-8210
[email protected]
SOURCE FCA Group
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