Hotel Online  .Special Report


Neptune Hospitality Advisors Arranges Financing
for Purchase of Austin, Texas Hotel
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SAN DIEGO, California - November 17, 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 293-room Hilton Northwest in Austin, Texas.  Neptune arranged the $4.0 million five-year floating rate loan at Prime plus 100 basis points.   The new owner is planning a significant renovation and will reposition the hotel with another major brand.

The hotel was acquired by American Property Management Corporation and Allegiance Realty Corporation.  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 and the 16th largest hotel owner by Hotel Business magazine in September 2004.

Allegiance Realty Corporation is a private commercial real estate investment company headquartered in Charlotte, North Carolina. Allegiance primarily invests in office buildings and hotels. Currently, Allegiance is invested in and manages 1.7 million square feet of office space and over 1,500 hotel rooms valued in excess of $200 million.

Neptune Hospitality Advisors is a national real estate firm dedicated to the hotel industry that specializes in capital advisory and investment sales.  We pride ourselves on our boutique client-focused culture and institutional results.  Neptune has completed over $175 million in hospitality transactions in the past twelve months. 

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

Contact

Neptune Hospitality Advisors, Inc.
The Aventine Building
8910 University Center Lane
Suite 500
San Diego, CA  92122
P. (858) 964-5678
F. (858) 964-5679
www.neptuneha.com
.
Also See: Neptune Hospitality Advisors Arranges Sale of Albuquerque Hotel / October 2004
Neptune Hospitality Advisors Arranges Financing for Purchase of Tampa-area Hotel / October 2004
Neptune Hospitality Advisors Arranges Refinancing of Unizan Plaza Office Building in Downtown Canton, Ohio / September 2004
Neptune Hospitality Advisors Arranges Financing for Purchase of Palm Springs Area Hotel / September 2004
Neptune Hospitality Advisors Arranges Acquisition Financing of Nashville Hotel / June 2004
Neptune Hospitality Advisors Represents Purchaser and Arranges Acquisition and Renovation Financing of Albuquerque Hotel / March 2004


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