Amerimar Enterprises and Angelo, Gordon & Co. Acquire The Westin Morristown

Amerimar Enterprises, a Philadelphia-based real estate investment company, and Angelo, Gordon & Co., a leading investment management firm, have formed a limited partnership to acquire The Westin Morristown in Morristown, NJ, and revitalize the property with over $15.2 million in renovations. The partnership plans to redevelop the property, including interior and exterior renovations, restaurant updates, and staff changes. The property will be rebranded as The Westin Governor Morris, with a focus on creating a new fine dining restaurant and expanding the event and meeting space to over 23,000 square feet.

Key Takeaways:

• The partnership, formed by Amerimar Enterprises and Angelo, Gordon & Co., has acquired The Westin Morristown in Morristown, NJ, for over $15.2 million in renovations.
• The property will be rebranded as The Westin Governor Morris and will feature a new fine dining restaurant, updated public areas, and expanded event and meeting space.
• The renovations will include converting an existing restaurant and lounge into new meeting and event space, as well as moving the hotel offices to the lobby.
• The property will feature 230 guest rooms, redesigned to meet or exceed standards established by Westin Hotels & Resorts.
• Each guest room will be equipped with complimentary in-room high-speed Internet access, and the property will also feature a custom-designed fitness facility and other amenities.
• The General Manager, Antoine (Tony) Berberi, has over 20 years of hospitality industry expertise, and Phyllis Babyak will manage the sales and marketing efforts for the property.
• The partnership has acquired a total of five hotels, including the Holiday Inn Select Bucks County in Trevose, PA, and the Ramada Plaza Hotel and Conference Center in Meriden, CT.
• Over the past 30 years, Amerimar and Angelo, Gordon have been responsible for more than 30 real estate transactions, including hotel, office, and multi-family assets across the U.S.

Statistics:

• Over $15.2 million will be invested in renovations at The Westin Morristown.
• The property will feature over 23,000 square feet of event and meeting space.
• The guest room inventory will be expanded to 230 rooms, allowing the property to capture more demand from business travelers and groups.
• The property will be equipped with custom-designed fitness facilities and other amenities.
• Angelo, Gordon & Co. currently manages approximately $10 billion of assets in seven distinct disciplines.
• Amerimar Enterprises has over 30 years of experience in redeveloping underperforming properties across the U.S.

Sources:

• "Amerimar Enterprises, Angelo, Gordon & Co. Announce Acquisition of The Westin Morristown"
• Amerimar Enterprises, Inc. website
• Angelo, Gordon & Co. website
• Ferguson Wehrly & Company Public Relations, +1-713-874-0121