NASHVILLE, TN— San Diego, CA-based Neptune Hospitality Advisors has arranged $6.7 million in first-mortgage financing for the purchase from ShoLodge of a two-year-old, 110-room Hilton Garden Inn here located minutes away from the Music City’s International Airport. It was pointed out the three-year floating-rate loan for the buyer— American Property Management Corp., also based in San Diego— was secured through a national investment bank and reflected “increased loan proceeds, a tighter interest-rate spread, and an overall lower effective cost of borrowing.”
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