Neptune Arranges $23.8mil Loan for Purchase of the Wyndham Albuquerque Airport
SAN DIEGO, CA, January 5, 2007. Neptune Hospitality Advisors, acting as exclusive financial advisor, has arranged the senior financing for the purchase of the 276-room Wyndham Albuquerque Airport in Albuquerque, New Mexico. Neptune arranged the $23,800,000 floating rate interest-only loan through a commercial finance company. Upon completion of a $6,000,000 renovation, the property will be converted to a Sheraton.
The hotel was acquired by American Property Hospitality Management ("APHM"), an affiliate of American Property Management Corporation ("APMC"). Based in San Diego, APMC was ranked as the 8th largest hotel management company in the April 2006 issue of Hotel Business magazine and the 5th largest independent third-party hotel management company in the June 2006 issue of Hotel and Motel Management magazine. With a portfolio value of over $1.5 billion, APMC currently owns and operates 45 lodging properties encompassing over 12,000 rooms and employs over 5,500 personnel throughout the United States.
Neptune Hospitality Advisors is a real estate capital advisory firm dedicated to the hotel industry. As a boutique, client-focused firm, Neptune provides a principal-to-principal focus and sophisticated approach to providing capital raising services, investments sales and advisory services to the hospitality industry.
For more information, contact Michael D. Armstrong, [email protected] or view 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) 964-5678
F. (858) 964-5679
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