All three agencies were with us. They assisted with the search warrants and the arrests. The operation ran as smoothly as possible.
This is my second chance to be with kids.
Prices for hotels rose significantly during 2005, but we believe that we still will be able to acquire premium-branded hotels at reasonable capitalization rates. In attractive markets where hotels are selling in excess of replacement costs, we will consider development on a highly selective basis.
In the vehicle, paperwork connected Curtis Clark to five of the six guns seized in the raid. The guns were purchased only a few hours before he delivered them to the undercover agents.
The guns were purchased in the last two-and-a-half months from two gun-running organizations. One group was also willing to trade cocaine for firearms.
Grand Heritage is a highly regarded hotel owner and operator and, we look forward to expanding our relationship with them. This is a very unique historic property in an irreplaceable location at the entrance to Rocky Mountain National Park, approximately one hour from Denver.
We believe interest rates will continue to rise and therefore believe the timing is right to lock in long-term rates. Accordingly, the company is considering several proposals to refinance approximately $160 million of its current portfolio with 10-year fixed rate financing. We expect to complete the refinancing by July 1st of this year.
We never stopped having school, ... Things are going well.
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