Thayer Lodging Group Closes on the Sale of the 1,582-Room Grande Lakes Resort in Orlando, Florida for $753 Million, Capping $1.5 Billion in Sales over Nine-Month Period.

Publication: Business Wire

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COPYRIGHT 2006 Business Wire

ORLANDO, Fla. -- Thayer Lodging Group, an Annapolis, Maryland based private equity real estate investment firm, announced that it has completed the sale of the 1,582-room Grande Lakes Resort in Orlando, Florida to Orlando-based CNL Hotels & Resorts, Inc. for $753 million. The closing of the sale occurred on Friday, Feb. 24.

"We are very pleased that the sale represents a compounded annual return to Thayer's investors in excess of 40 percent," said Thayer Co-Chairman...

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