AFC Arranges Financing for Hotel in Houston
HOUSTON, TX, December 10, 2007. AFC Hotel Finance Group, a capital provider that has sourced more than $600 million for hospitality development, construction and renovation projects this year alone, secured $12 million in financing for the Four Points by Sheraton Hotel at 2828 Southwest Freeway in Houston, TX. Peter M. Berk, President of AFC Hotel Finance Group, made the announcement.
"The principals sought additional capital in an effort to expand their growing business in the Southwest," Mr. Berk commented. "The location, experienced ownership and strong brand reputation made the Four Points by Sheraton Hotel an attractive investment for our institutional capital partners."
The 216-key hotel features a 24-hour front desk, business center, car rental service, state-of-the-art fitness center, outdoor pool and all modern amenities. On-site eateries include Au Bon Pain Bakery Cafe and ABP Bar.
Local attractions include the world-renowned Museum of Fine Arts, Miller Outdoor Theatre, Houston Zoo, Children's Museum of Houston, Rice University, George Brown Convention Center, Houston Museum of Natural Science, Reliant Stadium/Reliant Park and University of Houston. The property is also proximate to some of the country's leading corporate headquarters, including Exxon Mobil, Coca Cola, Washington Mutual and many other top firms.