Neptune Hospitality Advisors Arranges $19mil Purchase Loan for the Sheraton Charleston North
SAN DIEGO, CA, November 29, 2006. Neptune Hospitality Advisors announced today that it has arranged the senior acquisition financing for the 289-room, eight-story Sheraton Hotel North Charleston-Convention Center located in Charleston, South Carolina. Gavin Davis and Stan Kozlowski from Neptune arranged the $19,050,000 fixed-rate loan through a national commercial real estate lender.
The hotel was acquired by American Property Hospitality Management ("APHM"), an affiliate of American Property Management Corporation ("APMC"). APHM is planning an extensive renovation and will continue to operate the hotel as a Sheraton.
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 $1.3 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 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.
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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