FRISCO, TX - Mike Jaynes, president of Hall Structured Finance, announced today that the company has provided $21,000,000 to Queens Plaza North to facilitate the construction of a 137-key Holiday Inn Hotel in Long Island City, New York.

The new hotel is just 10 blocks east of the East River that separates Queens from Manhattan and one block away from a train station that provides direct, 10-minute service to the heart of Manhattan. This convenience combined with substantially lower pricing (projected ADR at $160 vs. $300+ in Manhattan) is expected to create substantial demand for this new product. Additionally, InterContinental brand hotels in Manhattan frequently turn away traffic because its Manhattan hotels are sold out. InterContinental expects to direct a significant amount of overflow traffic to the new Holiday Inn.

“We are confident that this beautiful new project will be in high demand and will perform very well in the competitive New York market,” said Jaynes. “We also have confidence in the sponsor’s development experience in this submarket as well as their operational team.”

Mike Jaynes handled the transaction on behalf of Hall Structured Finance and Daniel Hilpert with Mortgage EquiCap, LLC arranged the financing on behalf of Queens Plaza North. “Hall Structured Finance showed a tremendous amount of flexibility in structuring the transaction and accommodating my clients’ needs,” said Hilpert.

Hafeez Choudhary, a principal of Queens Plaza North, said “Hall Structured Finance has an impressive combination of real estate and finance experience as well as deep pockets and an entrepreneurial approach to doing business.”

Principals of Queens Plaza North have developed several projects in the New York metro area over the past five years, including several ground-up condominium projects and medical office space. Recently, the company began to focus on hotel development. The principals have participated in the construction and redevelopment of several hotel projects including flags such as Hilton, Holiday Inn and Best Western.

ABOUT HALL STRUCTURED FINANCE

Hall Structured Finance specializes in pursuing real estate and other investments typically bypassed by others. It targets undervalued assets where it can add value and facilitate completion. Hall Structured Finance, a member of the Hall Financial Group family of companies, has recently provided first lien, mezzanine and preferred equity financing for hotels, multifamily projects, condominiums and land. It also provides DIP financing for entities restructuring in bankruptcy and other special situation financing. For more information, visit www.hallstructuredfinance.com.

ABOUT HALL FINANCIAL GROUP

Founded in 1968, Hall Financial Group is owned by Craig Hall and family. Diversified holdings include active operations in commercial real estate development, ownership and management; software application development; structured finance lending for real estate and other areas; vineyards and wineries; and oil and gas. For more information, visit www.hallfinancial.com.