|Gardere Attorney Cliff Risman quoted in Hotel News Now article |
Europe’s hotel debt remains cloaked
|September 28, 2012 11:54 pm|
LONDON—There's plenty of interest in acquiring hotels in Europe, but like the rest of the world, buyers are waiting for lenders to loosen their purse strings.
Speaking during last week's Hotel Investment Conference Europe at the Park Plaza Riverbank London, panelists were vociferous about the interest in European hotels.
Risman said the deals that have been completed are getting done by acquirers that have cash.
"People will come in and acquire on all equity on the theory that after you close you can layer in debt once the asset is stabilized," he said.
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