HREC Investment Advisors Arranges the Acquisition Financing of the
DoubleTree Berkeley Marina
(Denver, Colorado; New York, New York) – HREC Investment Advisors’ Capital Markets Group is pleased to announce it arranged the $32.5 million acquisition financing for the 378-guestroom DoubleTree by Hilton located in Berkeley, California. HREC arranged the 5-year floating rate loan, which was provided by a Life Company. The buyer is ASAP International Holdings, Inc., a Los Angeles based organization.
Jake Stahler, Senior Vice President or HREC Investment Advisors’ Capital Market Group exclusively represented the buyer in the transaction.
The Property is situated on the waterfront in the Berkeley Marina, adjacent to Cesar Chavez Park in a truly irreplaceable location.
“This transaction presented a unique set of challenges” said Stahler, “the experience brought by HREC along with our clients vision were both instrumental in getting this deal closed.”
About HREC: HREC is the nation’s leading lodging and gaming real estate advisory firm specializing in property sales, mortgage brokerage, equity/JV structuring, consulting (market studies and appraisals), and litigation support. With 14 offices throughout North America, HREC is distinguished by unwavering commitment to client service through its team approach, intellectual capital and hotel/casino specialization.
For addition information on acquisition financing of this property, please contact:
Visit HREC’s website at www.hrec.com