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Crowne Plaza Hotel, Grand Rapids, Michigan |
SAN DIEGO � January 15, 2009 � Neptune Hospitality Advisors today announced it arranged the December sale of the 320-room Crowne Plaza Hotel located in Grand Rapids, Michigan. The hotel was sold by Sunstone Hotel Investors. The buyer is a San Diego-based private hotel company. �This transaction provided us with a number of challenges that we were able to successfully work through. Sunstone needed a year end closing, and we were able to identify the ideal purchaser who worked through some complicated issues in a 30 day closing period, and the deal closed prior to year end,� said Mike Armstrong, Neptune�s president. Jason Clouet and Patrick Bajdek, Neptune managing directors, assisted in the transaction. Neptune Hospitality Advisors is a real estate capital advisory firm dedicated to the hotel industry. Headquartered in San Diego, and with an office in Dallas, Texas, Neptune provides a full spectrum of capital advisory services including property sales, mortgage brokerage, joint venture capital raising, and asset advisory services. Working with a wide variety of hotel owners, investors and capital sources, Neptune has completed hotel and resort transactions across the United States and Mexico. For more information, contact Michael D. Armstrong at [email protected] or visit the company website at www.neptuneha.com. |
Contact
The Aventine Building 8910 University Center Lane Suite 420 San Diego, CA 92122 P. (858) 964-5670 F. (858) 964-5679 www.neptuneha.com |