$146 million refinancing arranged by HFF for Cornerstone Real Estate Advisers Inc.
The financing Mr. Brome arranged was for 5 hotels located in California,
HARTFORD, CT, November 8, 2005. The Hartford office of HFF (Holliday Fenoglio Fowler, L.P.) has arranged $146 million in financing for five hotels, exclusively on behalf of Cornerstone Hotel Income and Equity Fund, a newly formed investment fund, managed by Cornerstone Real Estate Advisers Inc.
HFF senior managing director Dana Brome arranged the fixed-rate loans that closed simultaneously through Cigna Investments Inc. CREA is an SEC registered real estate investment advisor that is an indirect, wholly-owned subsidiary of MassMutual, which has more than $5 billion of hotel, office, multifamily and retail centers under management throughout the United States and Canada.
All five properties are upscale Marriott, Hilton or Hyatt hotels located in metropolitan cities across the country. "CREA has been a long time client of HFF and we were happy to assist with a financing of this size for five well-maintained, well-established, well-located hotels," said Brome.
HFF operates 17 offices nationwide and, in combination with affiliate HFF Securities L.P., is a dominant real estate investment banking firm. HFF offers clients a full range of capital solutions and services including debt, equity, financial advisory, investment sales, note sales and loan servicing. Since 1998, the firm has completed more than $124 billion in transactions in all markets and property types.
Marriott International, Inc. (NASDAQ: MAR) is a global leading lodging company based in Bethesda,Maryland, USA, with more than 4,200 properties in 80 countries and territories. Marriott International reported revenues of nearly $14 billion in fiscal year 2014. The company operates and franchises hotels and licenses vacation ownership resorts under 19 brands, including: The Ritz-Carlton®, BVlgari®, EDITION®, JW Marriott®, Autograph Collection® Hotels, Renaissance® Hotels, Marriott Hotels®, Delta Hotels and Resorts®, Marriott Executive Apartments®, Marriott Vacation Club®, Gaylord Hotels®, AC Hotels by Marriott®, Courtyard®, Residence Inn®, SpringHill Suites®, Fairfield Inn & Suites®, TownePlace Suites®, Protea Hotels® and MoxyHotels®. Marriott has been consistently recognized as a top employer and for its superior business ethics. The company also manages the award-winning guest loyalty program, Marriott Rewards® and The Ritz-Carlton Rewards® program, which together surpass 50 million members. For more information or reservations, please visit our website at 
