March 06, 2015 12:47 PM ET

Real Estate Investment Trusts (REITs)

Company Overview of Carey Watermark Investors Incorporated

Company Overview

Carey Watermark Investors Incorporated, together with its subsidiaries, operates as a real estate investment trust primarily in the United States. It engages in acquiring, owning, disposing, managing, and seeking interests in lodging and lodging related properties. The company has elected to be taxed as a real estate investment trust and would not be subject to federal corporate income taxes if it distributes at least 90% of its taxable income to its stockholders. Carey Watermark Investors Incorporated was founded in 2008 and is based in New York, New York.

50 Rockefeller Plaza

New York, NY 10020

United States

Founded in 2008

Phone:

212-492-1100

Key Executives for Carey Watermark Investors Incorporated

Chief Executive Officer and Director
Age: 53
Chief Financial Officer and Chief Administrative Officer
Age: 54
Chief Operating Officer
Age: 60
Managing Director and Secretary
Age: 45
Chief Accounting Officer
Age: 45
Compensation as of Fiscal Year 2014.

Carey Watermark Investors Incorporated Key Developments

Carey Watermark Investors Inc. Buys Minneapolis Hotel for $66.4 Million

Carey Watermark Investors Inc. has acquired the Westin Minneapolis hotel for USD 66.4 million. The full-service hotel includes 214 guestrooms and is located in downtown Minneapolis. The acquisition was financed with USD 43.5 million of debt. The Westin Minneapolis, originally constructed as the Farmers and Mechanics Bank building in 1942, is a uniquely designed, high-quality, high-rise hotel in the heart of Minneapolis. As part of the 2007 redevelopment, the adjoining office building was fully reconfigured to house the hotel's guestrooms and meeting space.

Carey Watermark Investors Incorporated Acquires Kansas City Marriott Country Club Plaza for $57 Million

Carey Watermark Investors Incorporated announced that it has acquired the Kansas City Marriott Country Club Plaza, a 295-room full-service hotel, located in Kansas City, MO. Central location: Kansas City Marriott Country Club Plaza is located at the Country Club Plaza, a 55-acre, 15-block upscale shopping district located four miles from downtown Kansas City and comprised of approximately 150 retail establishments, restaurants and entertainment venues. The location also benefits from office demand, a hospital and the University of Missouri-Kansas City in the surrounding area. Attractive all-in investment: The $71.5 million investment includes the $56.7 million purchase price as well as $14.8 million of other acquisition-related costs and planned capital expenditures.

Carey Watermark Investors Acquires Sanderling Resort

NEW Carey Watermark Investors Incorporated announced that it has acquired the Sanderling Resort, a 106-room full-service resort, located in Duck, North Carolina on the Outer Banks. The purchase price was $38 million. The Sanderling Resort is situated on 13 acres of land on the Outer Banks in North Carolina, making it a popular drive-to destination. The resort is within driving distance of major east coast cities such as Raleigh (215 miles), Washington D.C. (250 miles), Philadelphia (350 miles) and Charlotte (375 miles). The property is approved to add an additional 24 guestrooms to the existing site. CWI plans to begin this project in late 2014 and to deliver the 24 additional guestrooms in time for the 2015 peak spring and summer seasons. The aggregate $48.1 million investment includes a $38 million purchase price as well as $10.1 million of other acquisition-related costs and planned capital expenditures. The acquisition was financed with $22 million of debt.

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Recent Private Companies Transactions

Type
Date
Target
Merger/Acquisition
February 13, 2015
The Westin Minneapolis
Merger/Acquisition
November 19, 2014
Kansas City Marriott Country Club Plaza
Merger/Acquisition
October 31, 2014
Staybridge Suites Savannah Historic District
 

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