of Hilton Garden Inn Tampa North
SAN DIEGO, California - -March 6, 2006 - Neptune Hospitality Advisors is pleased to announce that it has arranged the senior financing for the 148-room Hilton Garden Inn in Temple Terrace/Tampa, Florida on behalf of American Property Management Corporation. Neptune arranged the $11.5 million five-year fixed rate loan through a national commercial real estate lender. The note bears interest at a rate of 5.89% and is amortized over 30 years.
Built in 2000, the hotel is located in the heart of the Tampa Oaks business complex amidst over two million square feet of office space; the hotel benefits from both its business clientele as well as it proximity to Busch Gardens and the University of South Florida. “As a client driven advisor focused on our client’s business plans, we successfully placed this fixed rate financing in today’s favorable interest rate environment after have initially placing the acquisition financing for the owner 14 months ago,” commented Stan Kozlowski, Vice President of Neptune Hospitality Advisors.
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 15th largest hotel owner by Hotel Business magazine in September 2005. 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 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, financing and capital raising services, and advisory services to the hospitality industry.
The Aventine Building
8910 University Center Lane
San Diego, CA 92122
P. (858) 964-5678
F. (858) 964-5679
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