The hotel was acquired by 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 $1.6 billion, APMC currently owns and operates 45 lodging properties encompassing over 13,500 rooms and employs over 5,500 personnel throughout the United States.

�Our client had committed to a short closing period to satisfy the seller�s needs and the Neptune team, always ready for a challenge, worked within the tight timeframe to close the loan in less than 30 days, � stated Mike Armstrong, president of Neptune.   �This deal posed other timing challenges as well, including the buyer�s need to use 1031-exchange proceeds from another sale which had recently closed.�

Neptune Hospitality Advisors is a real estate capital advisory 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.