�Our client needed to replace a bridge loan that had reached the end of its term,� said Mike Armstrong, Neptune�s president.  �Our objective was to seek a new financing package that would not only refinance the old loan, but also give our client the additional renovation dollars needed to take the hotel to the next level,� added Armstrong.   �Although this assignment came in the midst of the current credit crunch, we successfully obtained multiple non-recourse debt quotes for our client to chose from, even though the property is an un-stabilized, independent hotel,� commented Jason Clouet, Neptune managing director.   

The hotel is owned by a partnership led by American Property Management Corporation (�APMC�).  APMC is an opportunistic-focused lodging company based in San Diego, California. Hotel Business Magazine ranked APMC as the 12th largest hotel owner in the United States (with a portfolio valued at over $2 billion) as listed in the September 2007 issue, and the 5th largest hotel management company as listed in the April 2007 issue. The Company is fast becoming a growing leader in the hospitality industry with 45 hotels and resorts located from coast to coast with over 13,500 rooms and over 5,500 employees, generating over $400 million in annual revenue.

Neptune Hospitality Advisors is a real estate capital advisory firm dedicated to the hotel industry. Headquartered in San Diego, and with an office in Austin, Texas, Neptune provides a full spectrum of capital advisory services including mortgage brokerage, joint venture capital raising, property sales and asset advisory services to the hospitality industry. Working with a wide variety of hotel owners, investors and capital sources, Neptune has completed hotel and resort transactions across the United States and Mexico.

For more information, contact Michael D. Armstrong at [email protected] or visit the company website at www.neptuneha.com.