in Wisconsin Arranged by HREC Investment Advisors
The Holiday Inn is a full-service “Three-Diamond” rated, mid-market hotel, with public spaces and guestrooms that are highly competitive. The Holiday Inn has recently undergone an extensive $1,300,000 renovation and is a valuable asset to the Neenah business community. “HREC created value for us by finding a rather unexpected source of financing and helping us overcome the inevitable issues that arise in a complex transaction. I was very pleased with their contribution” according to Steve Scheetz, Senior Vice President-Finance, WMC Management Company, LLC.
Rick George, Principal of HREC Investment Advisors said, “This was a tough deal to find the right lender due to the relatively large loan size, and the dearth of lenders interested in secondary, even tertiary, markets likes these, irrespective of the sound economics. However, a little research, creative structuring and some credit enhancements enabled HREC to close the deal.”
HREC Investment Advisors is the real estate brokerage and investment banking arm of Hospitality Real Estate Counselors (“HREC”), one of the nation’s leading advisors to the lodging industry. Based in Denver, Colorado, HREC maintains an international practice specializing in hotel brokerage, debt financing, equity placements, consulting and appraisals. (www.hrec.com).
HREC Investment Advisors
440 North Well Street, Suite 450
Chicago, IL 60610
Phone: (312) 645-9010
Fax: (312) 645-9012
|Also See||Industry Veteran Scott Stephens Joins HREC Investment Advisors / October 2003|
|Industry Veteran Rick George Joins HREC Investment Advisors / July 2003|
|$50.5 Million In Permanent Hotel Financing Arranged By HREC Investment Advisors / February 2003|
|Industry Vets Geoff Davis and Mike Cahill form New Hotel Brokerage and Investment Banking Firm, HREC Investment Advisors sm / November 2002|
|Mark Tobin and Mike Cahill form HREC Asset Managementsm In Association with Hospitality Real Estate Counselors, Inc.® / Aug 2002|
|Hospitality Real Estate Counselors and Conventions, Sports & Leisure Form Strategic Alliance / Mar 2001|