Neptune Hospitality Advisors Arranges Sale of Crowne Plaza Hotel
SAN DIEGO, CA, January 7, 2009 - Neptune Hospitality Advisors today announced it arranged the December sale of the 320-room Crowne Plaza Hotel located in Grand Rapids, Michigan. The hotel was sold by Sunstone Hotel Investors. The buyer is a San Diego-based private hotel company.
"This transaction provided us with a number of challenges that we were able to successfully work through. Sunstone needed a year end closing, and we were able to identify the ideal purchaser who worked through some complicated issues in a 30 day closing period, and the deal closed prior to year end," said Mike Armstrong, Neptune's president. Jason Clouet and Patrick Bajdek, Neptune managing directors, assisted in the transaction.
Neptune Hospitality Advisors is a real estate capital advisory firm dedicated to the hotel industry. Headquartered in San Diego, and with an office in Dallas, Texas, Neptune provides a full spectrum of capital advisory services including property sales, mortgage brokerage, joint venture capital raising, and asset advisory services. 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.
Neptune Hospitality Advisors, Inc.
The Aventine Building
8910 University Center Lane, Suite 420
San Diego, CA 92122
P. (858) 964-5670
F. (858) 964-5679
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