The Gulph Creek Hotels portfolio consists of three Hampton Inns, a Hampton Inn & Suites and a Homewood Suites located in the Philadelphia metro area. The hotels have all been built in the last five years and have been upgraded with upscale FF&E to accommodate the area’s strong corporate markets.

“This was a complex transaction, as specific contract business and cross-collateralization issues made for a challenging underwriting process. However, in the end Gulph Creek, the lender and HREC Investment Advisors were able to implement creative solutions that lead to a successful result” according to Geoff Davis, president, HREC Investment Advisors.

Said Clarke Blynn with Gulph Creek, “We are very happy with the end result, we now have long-term financing with built-in flexibility on term and exit provisions. We were able to accomplish our goal of establishing a sound financial base for the portfolio, while not being locked into a conduit facility. And as such, I think the lender and HREC Investment Advisors did a great job for us.”

HREC Investment Advisors is the real estate brokerage and investment banking arm of Hospitality Real Estate Counselors (“HREC”), one of the nation’s leading advisors to the lodging industry. Based in Denver, Colorado, HREC maintains an international practice specializing in hotel brokerage, debt financing, equity placements, consulting and asset management. (www.hrec.com)