| Ticker: HFD | 7825 Fay Avenue, Suite 250 | |
| Exchange: American Stock Exchange | La Jolla, California 92037 | |
| Industry: Financial | (619) 456-6070 |
| Type of Shares: | Class A Common Shares | Filing Date: | ||
| U.S. Shares: | 500,000 | Offer Date: | 4/17/96 | |
| Non-U.S. Shares: | 0 | Filing Price: | $10.00 | |
| Primary Shares: | 500,000 | Offer Price: | $10.00 | |
| Secondary Shares: | 0 | Gross Spread: | $1.00 | |
| Offering Amount: | $5,000,000 | Selling: | $0.60 | |
| Expenses: | $400,000 | Reallowance: | $0.60 | |
| Shares Out After: | 1,191,946 |
| Manager | Tier | Phone |
| La Jolla Securities, Inc. | Lead Manager | (619) 456-8200 |
| Auditor: Coopers & Lybrand | |||||
| Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 12/31/95 | 12/31/95 | ||||
| Revenue: | $1.45 | Assets: | $5.86 | ||
| Net Income: | $0.86 | Liabilities: | $0.76 | ||
| EPS: | $0.59 | Equity: | $5.10 | ||
Note: Dollar amounts are in U.S. millions; Audited figures expressed as full year, unaudited figures are partial year | |||||
| Business Description |
| The company is a real estate investment trust. Effective April 1, 1995, the company acquired a note receivable secured by real property in an approximate principal amount of $1.8 million and four Super 8 hotels as a result of certain assets from All American Group, Ltd, to the company. Concurrent with the closing of the public offering, the company will obtain the Mission Bay Super 8 hotel located in San Diego California from Mission Bay Super 8 Ltd. |
| Use of Proceeds |
| The company anticipates the net proceeds will be used to first pay costs and expenses of the Formation Transactions; second, to establish a working capital reserve; third, to pay approximately $3.513 million of debt of the Initial Hotels. |
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