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for the Purchase of the Wyndham Albuquerque Airport |
SAN
DIEGO, CALIFORNIA - - January 5, 2007 - - Neptune Hospitality Advisors,
acting as exclusive financial advisor, has arranged the senior financing
for the purchase of the 276-room Wyndham Albuquerque Airport in Albuquerque,
New Mexico. Neptune arranged the $23,800,000 floating rate interest-only
loan through a commercial finance company. Upon completion of a $6,000,000
renovation, the property will be converted to a Sheraton.
The hotel was acquired by American Property Hospitality Management (�APHM�), an affiliate of American Property Management Corporation (�APMC�). Based in San Diego, APMC was ranked as the 8th largest hotel management company in the April 2006 issue of Hotel Business magazine and the 5th largest independent third-party hotel management company in the June 2006 issue of Hotel and Motel Management magazine. With a portfolio value of over $1.5 billion, APMC currently owns and operates 45 lodging properties encompassing over 12,000 rooms and employs over 5,500 personnel throughout the United States. Neptune Hospitality Advisors is a real estate investment banking firm dedicated to the hotel industry. As a boutique, client-focused firm, Neptune provides a principal-to-principal focus and sophisticated approach to providing capital raising services, investments sales and advisory services to the hospitality industry. For more information, contact Michael D. Armstrong, [email protected] or view the company website at www.neptuneha.com.
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Contact
The Aventine Building 8910 University Center Lane Suite 420 San Diego, CA 92122 P. (858) 964-5678 F. (858) 964-5679 www.neptuneha.com |