| SAN DIEGO, California - - March 14, 2006 - - Neptune Hospitality Advisors
announced today that it arranged the senior financing for two Anaheim,
California hotels, the 190-room Desert Palms Hotel & Suites and the
150-room Desert Inn & Suites on behalf of Hansji Hotels. Neptune
arranged the ten-year fixed rate loans totaling $30 million through a national
commercial real estate lender. The two individual, non-cross collateralized
loans bear interest at a rate of 5.55% on a 30-year amortization period.
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�Clearly this is an example of aggressive lending when two independent hotels achieve a substantially below market interest rate of 5.55% with a 30-year amortization� commented Gavin Davis, Director of Neptune Hospitality Advisors. �An estimated 80% of commercial loans are procured through mortgage brokers like Neptune for obvious reasons, the least of which is the competitive auction-style process we run that allows our clients to achieve the highest loan proceeds at the lowest effective cost of borrowing as well as satisfying other financial objectives.� �Neptune Hospitality Advisors structured an intelligent financing solution for us that allowed us to meet all of our financing objectives,� remarked Sajan Hansji, Principal of Hansji Hotels.
Hansji Hotels is based in Orange County, California and is aggressively growing with strategic developments, high yielding acquisitions, and efficient management. Currently managing over 1,000 rooms in California and Arizona, Hansji Hotels has another 500 rooms in the development pipeline. For more information, contact Michael D. Armstrong at (858) 964-5678 or email [email protected] or view the company website at www.neptuneha.com. |
