Press Release: Jones Lang LaSalle Hotels
November 5, 2001
NEW YORK, NY -- Jones Lang LaSalle Hotels continues to build its capital markets team by hiring Mary Daly, formerly
of Credit Lyonnais, to lead the dedicated group that specializes in debt and equity financing for hospitality projects.
The team places private equity capital for investment in sponsored funds, private-operating companies and publicly
traded vehicles. Additional services include arranging first mortgages, construction financing, and mezzanine and
structured products as well as restructuring existing debt and/or equity, special purpose vehicles, synthetic leases
and executive sale/leaseback transactions.
Daly joins Jones Lang LaSalle Hotels as a Senior Vice President from Credit Lyonnais, where she was a senior relationship
manager responsible for some of the bank's largest hotel credit relationships. She has an extensive financing background
having served as relationship manager for commercial real estate and hospitality loans while with The Industrial
Bank of Japan, Shawmut Bank and BayBank Boston.
The Jones Lang LaSalle Hotels capital markets team's recent successes include arranging financing for the construction
of the Westin Kierland Resort in Scottsdale, Arizona, which entailed raising both the debt and equity for the development
of the resort hotel. The team also secured one of the largest private hotel refinancing deals in the industry--a
$180 million, 10-year term loan secured by seven hotels plus an $80 million revolving credit facitility secured
by two hotels--on behalf of Manhattan East Suite Hotels. Furthermore, the group is organizing construction financing
for Ian Schrager's Miramar Hotel in Santa Barbara, California, among other transactions.
"The enhancement of this team is a logical progression for our industry leading transactions group,"
said Arthur Adler, Managing Director of Jones Lang LaSalle Hotels. "Our client base requires that Jones Lang
LaSalle Hotels provide a full array of services. Given the difficulties that the industry is experiencing, both
owners and lenders will require expertise in restructuring loans, assisting lenders with note sales, working with
mezzanine lenders in determining the appropriate course of action and providing other creative solutions to bridge
the gap between lenders and owners. The current capital-constrained environment calls for a team that has the lodging
industry expertise to underwrite the risks associated with the hotel industy and has the creative capital structuring
ability to bring value to owners, investors and lenders. This team accomplishes that objective, as indicated by
our success in arranging financing for both existing hotels and new construction projects."
"I am excited to be working with Art and his team," added Daly. "While the hospitality industry
is facing some challenges at this time, out of these challenges will come opportunities for our client base. I
believe that the wide range of services and the vast experience of the Hotel Group at Jones Lang LaSalle positions
us well to source those opportunities and create value for our clients."
Members of the Capital Markets Team are experts in specialist lodging and capital markets. They include Arthur
Buser, Executive Vice President and Head of West Coast Operations for Jones Lang LaSalle Hotels; Michel Seifer,
Senior Vice President, and Bruce Ganong, Vice President, both of Jones Lang LaSalle's San Francisco office; and
Larry Sullivan, Vice President, based in Jones Lang LaSalle's New York office. The U.S. team will interact closely
with Jones Lang LaSalle Hotels' global capital markets team in raising offshore capital for U.S. hotels and hotel
companies.
Jones Lang LaSalle Hotels, the world's leading hotel investment services group, provides clients with value-added
investment opportunities and advice. Its recent two-year success story includes the sale of 13,994 hotel rooms
to the value of US$1.4 billion in 48 cities and advisory expertise for 173,021 rooms to the value of US$32.6 billion
across 343 cities. Jones Lang LaSalle Hotels' services include transactions, mergers and acquisitions, financial
advice and capital raising, valuation and appraisal, asset management, strategic planning, operator assessment
and selection and industry research. Jones Lang LaSalle (NYSE: JLL) is the world's leading real estate services
and investment management firm, operating across more than 100 key markets on five continents. http://www.joneslanglasallehotels.com
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Contact:
Leah Davis (Jones Lang LaSalle Hotels) Phone: +213 680 7964 E-mail: leah.davis@am.joneslanglasalle.com
Organization:
Jones Lang LaSalle Hotels (NY)
http://www.joneslanglasallehotels.com/
153 East 53rd Street
USA - New York, NY10022
Phone: +1 212 812 5700
Fax: +1 212 421 5640