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NCC PS Enterprises, LLC Acquires the National Conference Center
The National Conference Center, located in Leesburg, VA, was acquired by NCC PS Enterprises, LLC Wednesday. The National Conference Center is one of the largest conference centers in the nation. The property features 917 rooms and the largest ballroom in Northern Virginia.
NCC PS Enterprises, LLC, is a venture between an affiliate of PCCP, LLC, an integrated real estate finance and investment management firm with projects throughout the United States, and affiliates and principals of Stoneleigh Capital, LLC, a Connecticut-based private equity investment company. PCCP, LLC and Stoneleigh Capital, LLC have extensive experience with hospitality assets and are prepared to support the continued successful operation of the property.
“We are very excited about the future of the National Conference Center,” said Frank D. Palmer, managing director of Stoneleigh Capital, LLC. “We’re looking forward to completing a program of capital improvements that are proposed to enhance the guest experience.”
NCC PS Enterprises, LLC has contracted Stoneleigh Asset Management, LLC to oversee the operations of the property. Stoneleigh Asset Management, LLC has further engaged LaKota Hotels & Resorts to direct the daily operations and all aspects of the management and marketing of the project. The combined team brings many decades of experience focused on the repositioning of hospitality assets.
“We look forward to quickly addressing capital improvements and implementing a targeted customer communication campaign,” explained Sam Haigh, president and CEO of LaKota Hotels & Resorts. “We are confident that these initiatives will significantly enhance the guest experience and help to increase the business to levels commensurate with those of one of the nation’s premier training, conference, and catering destinations.”
Stoneleigh Asset Management, with LaKota Hotels & Resorts, will assume the management of the National Conference Center and the West Belmont catering destination from the current operator, ARAMARK Services, Inc., on or about May 16, 2014, and will immediately begin the operational upgrade of all aspects of the property.
About National Conference Center
Located in Northern Virginia 12 miles from Dulles International Airport and 35 miles from Washington, D.C., the National Conference Center is one of the largest and most comprehensive conference centers in the nation. With 917 guest rooms and over 250,000 square feet of meeting and group function space, including the West Belmont Place catering complex with its 16,500 square foot ballroom, the National Conference has become the Nation’s headquarters for productive meetings and West Belmont Place the hub for Loudoun County and surrounding area social functions. West Belmont Place was named 2013 Best Venue by the International Special Events Society. National Conference Center is also on the GSA schedule. For information, call 800-640-2684 or visit www.conferencecenter.com and www.westbelmontplace.com.
About PCCP, LLC
PCCP, LLC is a premier real estate finance and investment management firm focused on commercial real estate debt and equity investments. PCCP has over $6 billion in assets under management on behalf of institutional investors. With offices in New York, San Francisco, Sacramento and Los Angeles, PCCP has a proven track record for providing real estate owners and investors with a broad range of funding options to meet capital requirements. PCCP originates and services each of its investments, ensuring that clients benefit from added value and outstanding investment returns. Since its inception in 1998, PCCP has successfully raised, invested and managed approximately $9 billion of institutional capital through a series of investment vehicles including private equity funds, separate accounts and joint ventures. PCCP continues to seek investment opportunities with proven operators seeking fast and reliable capital. Visit www.pccpllc.com for more information.
About LaKota Hotels & Resorts
A dynamic hospitality management company specializing in turning around under-performing hotels, resorts and conference centers. Located in Norwalk, CT, the LaKota Hotels & Resorts team has a strong history of injecting new life into hospitality assets… retooling the operations, repositioning the properties and ramping up the sales and marketing efforts to achieve extraordinary financial success for ownership. For more information, visit www.lakotahr.com.
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