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 [email protected] 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
.
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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