News: Front Section
Posted: November 19, 2007
AFC Hotel Finance Group arranges $19m in financing for Ascension
"AFC Hotel Finance Group, a capital provider that has sourced more than $600 million for hospitality development, construction and permanent financing in the first half of 2007 alone, arranged $19 million in financing for Ascension Hotels, owner of Crowne Plaza Hotel-Tulsa at 100 East Second St.," said Peter Berk, president of AFC Hotel Finance Group.
"Crowne Plaza Hotel-Tulsa is one of the largest convention hotels in the city, offering 20 meeting rooms, a full size theater, conference space, world-class dining and the modern amenities today's top executives seek," said Berk. "This financing served to renovate the property in key ways for the highly reputable ownership, creating a well-managed product that remained attractive to our institutional investment partners."
Renovated this year, Crowne Plaza Hotel-Tulsa is a 12-story, 453-room hotel with executive suites available.
The property is located proximate to the Tulsa Convention Center in the heart of the city's Art Deco Downtown and located eight miles from Tulsa International airport.
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