Aztec Group Arranges $75.1 Million in Financing for the InterContinental Hotel in Kansas City

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. January 28, 2016

AZTEC GROUP ARRANGES $75.1M FINANCING FOR THE INTERCONTINENTAL HOTEL IN KANSAS CITY, MISSOURI

Miami, Florida -- Aztec Group, Inc., Florida's leading real estate investment and merchant banking firm for the past 34 years, is pleased to announce that Senior Managing Director, Boaz Ashbel, has arranged a $75.1 million first mortgage loan for the InterContinental Hotel in Kansas City, Missouri on behalf of The Procaccianti Group ("TPG"). The loan was placed with Deutsche Bank.

Formerly a Ritz-Carlton and a Fairmont, the InterContinental Hotel Kansas City is an impressive 12-story, 366-room, full-service hotel. The institutional-quality asset and winner of the AAA Four Diamond Award for 22 consecutive years, offers an upscale restaurant, private club lounge, business center and fitness facility, outdoor pool, concierge services, florist, and gift shop. Included in the new loan are substantial funds earmarked for the renovation and upgrade of the property. The Hotel will continue to be professionally managed by TPG Hospitality, which has successfully operated it since 2006.

"This marks yet another landmark transaction for TPG. We are very pleased that the new loan positions the property's continued success into the foreseeable future," noted Greg Vickowski, Chief Financial Officer of TPG.

According to Ashbel, “This property generated tremendous interest from major lenders, reflecting the quality of the asset, its superior location, dedicated associates, and the track record and exceptional reputation of TPG."

The iconic Country Club Plaza district, currently under contract for $660 million, is a fifteen-block, outdoor destination surrounded with an abundance of first-class shopping, dining, and entertainment venues spanning 1.3 million square feet. The area hosts 16.5 million visitors annually with its timeless architecture, high-end office and retail tenancy, and unparalleled connection to the residents in the region.

Aztec Group Founded in 1981, Aztec Group, Inc. specializes in facilitating the acquisition, disposition, financing and capital needs of real estate projects for institutional investors, entrepreneurs and commercial developers as well as offshore clients. Aztec has long been recognized as the premier real estate capital markets intermediary and merchant banking firm in the Southeast, handling over $10 billion in transactions during the past decade. The company is also considered an innovator, often seeing opportunities for clients before they become apparent in the marketplace. For more information, visit www.aztecgroup.com.

Procaccianti Companies Founded in 1964, TPG is a second generation privately-held real estate investment and management company with a broad national platform encompassing all sectors of real estate. Throughout five decades, TPG has owned or managed hundreds of real estate assets surpassing 50 million square feet with a peak capitalization value exceeding $5 billion. TPG has managed over 130 hotels surpassing 23,000 guest rooms throughout 29 states. For more information, visit www.tpgcompanies.com.