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Neptune Hospitality Advisors Structures $17 million Debt Financing
for Purchase of 295-room Doubletree in Downtown
Albuquerque, New Mexico
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SAN DIEGO, California -October 5, 2005 - Michael D. Armstrong, President of Neptune Hospitality Advisors, Inc., is pleased to announce his firm arranged the senior and mezzanine financing for the acquisition of the 295-room Doubletree located in downtown Albuquerque, New Mexico.  Neptune procured a $13.9 million three-year floating rate loan through a Wall Street investment bank and a $3.0 million coterminous mezzanine loan through a national hybrid real estate investment trust.  American Property Management Corp. acquired the hotel.
 
The 16-story Doubletree offers 295 guestrooms and is the only hotel connected via underground tunnel to the 167,000 square foot Albuquerque Convention Center.  The hotel is situated in the heart of Downtown Albuquerque on 2.00 acres of land and will undergo an approximate $5.5 million renovation and will remain a Doubletree hotel.
 
“We continue to actively structure non-recourse capital solutions for our clients based on their deal specific and investment needs,” commented Stan Kozlowski, Vice President of Neptune Hospitality Advisors.  “Our process ensures that our clients achieve the lowest cost of capital possible while matching their investment objectives with appropriate deal terms such as prepayment flexibility, interest rate exposure and other considerations.  Most importantly, we close quickly for our clients.”
 
Based in San Diego, APMC was recently ranked as the 7th largest independent hotel management company by Hotel and Motel Management magazine in March 2005 and the 16th largest hotel owner by Hotel Business magazine in September 2004.  This purchase represents APMC’s 14th hotel acquisition in the last year.  Michael Gallegos, President and CEO of APMC, was recently honored as Ernst & Young’s 2004 National Entrepreneur of the Year in the real estate industry.
 
Neptune Hospitality Advisors is an international real estate firm dedicated to the hotel industry that specializes in capital advisory and investment sales.  As a boutique, client-focused firm, Neptune provides a principal-to-principal focus and sophisticated approach in providing their real estate and financing services to the hospitality industry.  
 
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 420
San Diego, CA  92122
P. (858) 964-5678
F. (858) 964-5679
www.neptuneha.com
.
Also See: Neptune Hospitality Advisors Arranges Financing for Purchase of Historic Sheraton Gunter Hotel in Downtown San Antonio / July 2005
Neptune Hospitality Advisors Arranges Sale of Downtown San Diego Hotel / June 2005
Neptune Hospitality Advisors to 'Market for Sale' the Radisson Riverfront and the Radisson City Center Hotels in Saint Paul / June 2005
Neptune Hospitality Advisors Arranges $37 million Financing for Creative Hotel Associates Portfolio Recapitalization  / March 2005
Neptune Hospitality Advisors Arranges Financing for Purchase of Austin, Texas Hotel / November 2004
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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