FOR IMMEDIATE RELEASE:
April 5, 2016
NEW OKC PARTNERSHIP SEEKS DISTRESSED HOTEL LOANS/ASSETS
Oklahoma City, OK, April 5, 2016– Plains Management Group has announced that it has formed a new partnership that is focused on acquiring distressed hotel loans & assets from financial institutions. The newly formed partnership is currently pursuing these investments within the U.S. - Southwest Region. “We saw a unique opportunity in the current marketplace given the economic downturn in the region brought on by low 0il & gas commodity prices. We are fortunate to have been able to create a partnership that has the financial ability to acquire these assets at a discount along with the stability that is needed to weather the storm. These types of troubled REOs create a great opportunity for us to implement our proven management techniques aimed at unlocking hidden asset value and ultimately improving the hotels operating and financing efficiencies. Being able to combine this with our many years of experience in working with this type of asset class creates a unique opportunity for us. Our partnership approaches these investments with a long term outlook, and the strong belief that history has proven a recovery will eventually follow.” said Ryan Slater, Managing Partner with Plains Management Group. “We believe this sort of opportunity only comes every 20 years or so, where others might view this period as distressed we take the opposite approach - the timing is right for us.”
Plains is reaching out to financial institutions on any distressed hotel loans in their portfolio. The group has a strong cash position creating the unique ability to close quickly on anything that meets their specific criteria. The partnership is also seeking opportunities to assist in receivership and management through foreclosure, purchase of the REO, purchase of the loan or consulting on the financial institutions current hotel portfolio.
Plains Management Group, is a privately held, fully integrated Hotel Development, Ownership, and Management Company located in Oklahoma City, OK. The company was created to develop, own, and manage high quality limited service, lifestyle, and extended stay hotel properties. Plains franchises with worldwide recognized “best in class” hospitality brands that all have an outstanding reputation and track record for operational excellence. For more information regarding this new partnership please contact Ryan Slater, Managing Partner at email@example.com or by visiting www.plainsmanagementgroup.com.
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