LOS ANGELES, CA, December 17, 2014 – ASAP International Holdings (“ASAP”) (OTCQB: ASAE) announced today that it has successfully advised on the acquisition for Urban Commons LLC of the 777 room Nickelodeon Suites Resort Orlando which closed on November 25, 2014, Cushman & Wakefield, Inc represented the Seller, Iron Hound Management Company arranged the financing for the Buyer.
Nickelodeon Suites Resort in Orlando Florida is located in the heart of Orlando, Florida, just 20 minutes from the Orlando International Airport. The Nickelodeon Suites Resort is a 777 key family-friendly hotel with 24-acres of stomping grounds, in close proximity to the Magic Kingdom, Disney’s Animal Kingdom, and Universal’s Islands of Adventure as well as other exciting Orlando area attractions.
The acquisition of the Nickelodeon Suites Resort represents Urban Commons’ second hotel acquisition in Florida. The acquisition presented the opportunity to invest in one of the most diverse and fastest growing markets in the country at an attractive basis.
Mr. Frank Yuan stated, “The Nickelodeon Suites Resort represents the type of projects sophisticated investors are searching for. Investors understand the Orlando market because of the stable demand generators and understand further developing the hotel with an internationally visible location.” Yuan also commented “We really appreciate every party in the transaction, including Urban Commons, Cushman and Wakefield, Sellers and Iron Hound together with the lender working diligently together to ensure the proper close. Everyone’s cooperation made the transaction smooth and successful.”