Crowne Plaza Hotel
- Capstone acquired a $26M non-performing note secured by the 453 room Crowne Plaza Hotel in Tulsa, Oklahoma.
- The Note was acquired for 46.0% on the dollar and sold shortly after purchase.
MARIOTT FAIRFIELD INN
ATLANTIC CITY NORTH, NJ
- Capstone acquired a $9.8M defaulted note secured by a 200-room Marriot Fairfield Inn.
- Capstone replaced the hotel management company, streamlined labor and cut expenses by over 20% and increased gross revenue by over $500,000.
- In 2014, the Atlantic City market was in a sever decline and Capstone sub-leased the hotel to a local operator and recovered 75% of invested capital.