NEWS

January 2004

GERSON LAW FIRM APC Closes Hotel Loan In Heart of San Diego's East Village Near Petco Park.

GERSON LAW FIRM APC represented a major west coast credit union closing a loan during the first week of January 2004, in the amount of $3,000,000.00. The loan provided permanent financing for Barry Hotel.

Barry Hotel is a boutique hotel in the heart of downtown San Diego's East Village. Barry Hotel is located within a few blocks of Petco Park, the new home of the San Diego Padres.

Downtown San Diego continues to experience a major surge of redevelopment as more than 4,000 condominiums and three major hotels are in various stages of planning and development.

The Firm has previously closed loans for five star and four star hotels, including Santa Barbara's landmark Biltmore Hotel, which is operated as a Four Seasons Resort. The Firm also frequently closes loans for owners of limited service lodging facilities.

GERSON LAW FIRM APC represents lenders and developers in all aspects of financing and development, including hotels, office buildings, shopping centers and multifamily.