Hotel Online  .Special Report


Neptune Hospitality Advisors Arranges Sale
of Downtown San Diego Hotel
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SAN DIEGO, California - - May 15, 2006 - - Neptune Hospitality Advisors announced today that it has arranged the sale of the 68-room StayBridge Suites Hotel located in downtown San Diego, California.  The hotel sold to Trendwest Resorts, Inc, a subsidiary of Cendant Timeshare Resort Group, Inc.  Trendwest plans to convert the hotel into a timeshare property.  The sale price was not disclosed.  
 
The StayBridge, which opened in early 2004, is actually a 78-year old building formerly known as the Riviera Apartments/Hotel.  It was completely renovated and converted to a hotel in December 2003 with the façade remaining as it was.  The seller, an affiliate of Shapery Enterprises, plans to build a 40-story high-rise condominium on what is now the parking lot.  The two projects will eventually share parking and a few select amenities.  
 
“This transaction represents one of two recent downtown San Diego deals involving Neptune and Cendant,” noted Mike Armstrong, president of Neptune.  In 2005, Neptune arranged the sale of Hotel Prava, a boutique, all-suite hotel, to Cendant which gave them a foothold into downtown for their vacationing customers.  “Cendant had so much demand for downtown accommodations that they needed additional suites,” added Mr. Armstrong.
 
Neptune Hospitality Advisors is a real estate investment bank dedicated to the hotel industry.  As a boutique, client-focused firm, Neptune provides a principal-to-principal focus and sophisticated approach to providing investment sales, capital raising services, and advisory services to the hospitality industry.  Its principals have over $4 billion of real estate and finance experience collectively.  
 
For more information, contact Michael D. 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.
The Aventine Building
8910 University Center Lane
Suite 420
San Diego, CA  92122
P. (858) 964-5678
F. (858) 964-5679
www.neptuneha.com
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Also See: Neptune Hospitality Advisors Arranges $49 million Financing of 672 room Portfolio / April 2006
Neptune Hospitality Advisors Arranges $30 million Financing for Hansji Hotels / March 2006
Neptune Hospitality Advisors Advises Port Authority in Sale of the Two Largest Hotels in Downtown Saint Paul, Minnesota / March 2006
Neptune Hospitality Advisors Arranges $25 million Financing of Downtown San Diego Radisson Hotel / March 2006
Neptune Hospitality Advisors Arranges Re-financing of Hilton Garden Inn Tampa North / March 2006
Neptune Hospitality Advisors Arranges Sale of Radisson Convention Center Hotel in Visalia, California / March 2006
Neptune Hospitality Advisors Arranges Acquisition Financing for Purchase of Hilton Salt Lake City Airport / November 2005
Neptune Hospitality Advisors Secures $10 million Debt Financing for Purchase and Renovation of 276 room Phoenix, Arizona Hotel / October 2005
Neptune Hospitality Advisors Structures $17 million Debt Financing for Purchase of 295-room Doubletree in downtown Albuquerque, New Mexico / October 2005
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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