Neptune Hospitality Advisors Arranges $38 mil Financing of 468-Room Portfolio
SAN DIEGO, CA, June 29, 2006. Neptune Hospitality Advisors announced today that it has arranged the $38,300,000 senior financing for a 468-room Pinnacle Hotels USA Portfolio located primarily in San Diego, California. The portfolio consisted of four properties in San Diego County, California and one in Banning, California. Neptune arranged the five individual, non-cross collateralized, 10-year fixed rate loans through a national commercial real estate lender.
"The second Pinnacle Hotels USA transaction represents one of the pillars of our business philosophy, which is to become an integral part of our client's team and deliver unparalleled analytic and structuring advice with a high level of service," commented Stan Kozlowski, Vice President of Neptune Hospitality Advisors. "This marks the eleventh loan we have closed with Pinnacle in the first half of 2006 and underscores one of Neptune's core competencies in portfolio capital optimization, which in turn unlocks significant value for our clients," added Gavin Davis, Director of Neptune Hospitality Advisors.
"The Neptune team consists of a trustworthy group of individuals who understand their business extremely well; a team that is totally committed and dedicated to the work at hand. They are truly hands on from the very beginning to the funding of the loan. They produce results!" added Barry Lall, President of Pinnacle Hotels USA.
Based in San Diego, Pinnacle has a strong presence in San Diego having owned and operated hotels in the market for over 7 years. The Company's portfolio currently consists of 20 properties.
Neptune Hospitality Advisors is a real estate investment banking firm dedicated to the hotel industry. As a boutique, client-focused firm, Neptune provides a principal-to-principal focus and sophisticated approach to providing investment sales, capital raising services, and advisory services to the hospitality industry. Its principals have over $4 billion of real estate and finance experience collectively.
For more information, contact Michael D. Armstrong at (858) 964-5678 or email [email protected] or view the company website at www.neptuneha.com.
Contact: Michael D. Armstrong (858) 964-5678
Neptune Hospitality Advisors, Inc.
The Aventine Building
8910 University Center Lane, Suite 420
San Diego, CA 92122
P. (858) 964-5678
F. (858) 964-5679
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