Horwath Hospitality & Leisure LLC Provide Advisory Assistance
Hotel Financing Professionals Help to Secure a Construction/Mini-Perm Loan for the InterContinent
SAN FRANCISCO, CA, December 13, 2005. Joel W. Hiser, Chief Executive Officer of Horwath Hospitality & Leisure, is pleased to announce his firm advised CDC San Francisco LLC on the procurement of a construction/mini-perm loan of $110,000,000 for the development of the 32-story, 550-room full-service InterContinental Hotel in San Francisco. The loan was arranged through Scotia Capital and Royal Bank of Scotland.
The InterContinental - San Francisco will be a four-star full service hotel located adjacent to the Moscone West Convention Center in the heart of the Yuerba Buena Gardens neighborhood of San Francisco. The new hotel will be an exciting addition to an area filled with retail shopping, museums, galleries, restaurants and entertainment.
Leonard Blakesley, Executive Vice President for Continental Development Corporation, stated "Our completed InterContinental Hotel will be one of the finest hotels San Francisco has to offer and we thank Horwath for their assistance in obtaining the necessary project financing."
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