Full Service Hotel Program
Seven Full Service Properties Throughout the Nation

Between 1995 and 1997, Soundview principals directed the acquisitions of seven, full service hotels in proven downtown and suburban markets across the nation. The combined $290 million, joint-venture investment portfolio went public in 1998 as LaSalle Hotel Properties, a multi-asset, multi-operator real estate investment trust. Soundview principals invested in excess of $32 million into this new venture, selling a portion of their initial investment at the IPO, while remaining as the trust's largest shareholder with 10 percent ownership and a seat on its board of directors. By contributing assets into the REIT at the IPO, Soundview principals converted relatively illiquid partnership interests in a diverse hotel portfolio into a more liquid ownership stake in a well-capitalized, professionally managed public company. In 2001, Soundview principals exited the investment, realizing a 29 percent internal rate of return and a $31.9 million profit.

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