News

02 Oct2013

Hunter Advises on Recapitalization of Downtown Hartford Hotel

For immediate release

Contact:  Martha Seabrook, Hunter Hotel Advisors

770-701-2199 or Martha.Seabrook@HunterHotels.net

 

Hunter Advises on Recapitalization of Downtown Hartford Hotel

 

Atlanta, GA., October 2, 2013. —Hunter Hotel Advisors announced today that the firm recently advised on the $11.5 million strategic recapitalization of the Ramada Plaza Hartford Downtown in Hartford, Connecticut.

Hunter’s Los Angeles and Washington, D.C. offices worked together with Hunter’s Capital Markets team on structuring a deal for the 18-story hotel with Florida-based Inner Circle Capital.   “This was a complex transaction, but the key to our success was the willingness of all parties involved to be open to creative solutions, ” said Danny Givertz, senior vice president of Hunter’s Los Angeles office.

Five-million dollars in renovations is planned for the 350-room, 18-story hotel located in the heart of Hartford’s business district.  “The Hunter team provided us with with invaluable insight to navigate the process and acquire this asset,” said Joe Gillespie, owner of Florida-based Inner Circle Capital. 

Hunter’s seven brokerage offices specialize in select and full-service hotels and currently represent more than 100 hospitality assets nationally, and approximately seven hotels are scheduled to close by the end of the month.  Hunter’s Capital Market group anticipates closing on more than $150 million in debt and equity financing by the end of the year.  Additional information, including current listings, is available at the company’s website, www.HunterHotels.net, or by contacting the Atlanta headquarters at 770-916-0300.

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With seven strategically-located offices, Hunter is one of the nation's leading providers of brokerage and capital markets advisory services to the hotel industry.  Specializing in full and select-service listings, Hunter's team of seasoned professionals and the industry's brightest stars have leveraged their combined expertise to successfully advise thousands of clients through all economic conditions.  

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