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Intergroup sells Radisson Resort for $43,500,000

Tandy O. Lofland, president and founder of Intergroup Realty, Inc. and the Intergroup companies arranged the recent sale of the 718-room Radisson Resort Parkway, Kissimmee, Florida on behalf of an affiliate of the owner, Concorde Finance & Investment, Inc., to a U.S.-based real estate investment fundThe full-service resort hotel was developed by Intergroup in two phases in 1987 and 1991 and has been under the same ownership since it opened. It is located within The Parkway, a 195-acre mixed-use project also developed, marketed, and managed by Intergroup and which when completed will contain several thousand hotel and time-share units and over 100,000 square feet of retail, restaurants, and tourist attractions. The Parkway is located next to Walt Disney World and across the street from Disney’s new city Celebration.

The Radisson contains some 7,000 square feet of meeting space, two large pools, a full-service restaurant, deli, sports lounge, a full complement of other amenities, and 7 lakes on over 21 lushly landscaped acres. An extensive renovation was completed in 2001.

The Radisson Resort Parkway marks the latest Intergroup project or transaction with Concorde and its affiliates. Other projects involving the firms include the Four Seasons Buenos Aires, Argentina and Four Seasons Resort Carmelo, Uruguay.