Hotel Online  .Special Report


Neptune Hospitality Advisors Arranges
Acquisition Financing of Nashville Hotel
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SAN DIEGO, California - June 23, 2004 - Michael D. Armstrong, President of Neptune Hospitality Advisors, Inc., is pleased to announce his firm arranged first mortgage financing for the purchase of the two-year old 110-room Hilton Garden Inn Nashville located minutes away from the Music City’s International Airport.  Neptune arranged the $6.7 million three-year floating rate loan through a national investment bank. 

“Given the current abundance and 


Hilton Garden Inn Nashville
availability of secured financing in the hotel sector at historically compelling interest rate and spread levels, coupled with strong sponsorship and a high quality asset, we were successful in creating a highly competitive auction for the financing opportunity.  As a result, we negotiated a very favorable loan including increased loan proceeds, a tighter interest rate spread and an overall lower effective cost of borrowing for our client,” commented Stan Kozlowski, vice president of Neptune who structured the financing.

The buyer, American Property Management Corporation, purchased the hotel from ShoLodge.  Based in San Diego, APMC was recently ranked as the 10th largest independent hotel management company by Hotel and Motel Management magazine in March 2004.

Neptune Hospitality Advisors, founded in 2001, is a national real estate firm exclusively dedicated to the hotel industry with offices in San Diego, Dallas, Boston, and Honolulu.  Neptune specializes in hotel brokerage, debt and equity financing, and development advisory services.

For more information, contact Michael Armstrong at (858) 964-5678 or email mike@neptuneha.com or view the company website at www.neptuneha.com

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Contact

Neptune Hospitality Advisors, Inc.
Michael Armstrong
The Aventine Building 
8910 University Center Lane
Suite 500
San Diego, CA  92122
p. (858) 964-5673
f.  (858) 964-5679
mike@neptuneha.com
www.neptuneha.com
.
Also See: Neptune Hospitality Advisors Represents Purchaser and Arranges Acquisition and Renovation Financing of Albuquerque Hotel / March 2004


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