DALLAS, May 6, 2014 /PRNewswire/ -- GTM Hospitality,
LLC and LIG Assets, Inc. (PK: LIGA) announce the acquisition of the
Wyndham Baton Rouge Hotel. Led by GTM, in its latest addition
to its portfolio, the property boasts a unique financial structure
that includes LIG Assets, Inc.
The property is an 81 unit hotel located in vibrant Baton Rouge,
the Capital City of Louisiana. The market is bolstered by the oil
and gas industries as well as being located closely by Louisiana State University. With transient, group
and long term contract business frequenting the area, the Wyndham
Baton Rouge is a great fit for GTM and LIGA.
Led by long time hotelier Marty
McDaniel, GTM Hospitality, LLC is a fully integrated, full
service Management and Development Company with an expanding
portfolio of owned and managed properties based in Panama City, Florida. President and CEO
McDaniel states, "This acquisition represents the first of many
with LIGA and our capital partners.
McDaniel continued, "This transaction is a testament to creative
finance, strong leadership and a deep understanding of the lodging
industry. There is a strong synergistic presence between our two
companies and we have developed a pipeline of properties that fit
financially and strategically for both of us," said McDaniel.
Based in Dallas, TX, LIG
Assets, Inc. is a publicly traded real estate company focused on
residential and commercial real estate transactions and growing its
hospitality portfolio. "We are very excited to be in the
hospitality space with GTM," said Jeff
Love, President and CEO of LIG Assets, Inc. "This deal
represents the first of many that are planned between our
companies."
Love continued, "We have created a successful acquisition model
that will allow us to grow together over the coming months and
years. We are excited to be partnered with GTM and about the future
of our companies working together."
Lending provided through The Bancorp Bank with advisory services
provided through Meridian Capital, New
York, New York.
About GTM Hospitality, LLC
GTM Hospitality, LLC is a fully integrated, full service
Management and Development Company with an expanding portfolio of
owned and managed properties based in Panama City, Florida. The Company is led by
long time hotelier, Marty McDaniel,
CHA who is President and CEO.
About LIG Assets, Inc.
LIG Assets, Inc., based in Dallas,
TX, is a Company focused on residential and commercial real
estate. Through its alliances with hedge funds, mortgage brokers,
and hard money lenders, LIG Assets plans to expand its residential
portfolio and increase commercial property transactions. LIG
Assets, Inc. currently trades on the pink sheets under the ticker
symbol "LIGA". For additional information, please visit LIG
Assets corporate website:
www.ligassetsinc.net.
Media Inquiries:
Marty McDaniel, CHA President
and CEO GTM Hospitality, LLC
Marty.McDaniel@GTMHospitality.BIZ
www.GTMHospitality.BIZ
850-269-7235
Jeff Love
President and CEO LIG Assets, Inc.
Jeff@LIGAssetsinc.net
214-760-1000
SOURCE LIG Assets, Inc.