Solid Rock Advisors has developed a reputation in the Hotel Industry for its effectiveness in helping clients accomplish their transactional goals. Twenty five years of experience, strong business relationships, hard work and our institutional knowledge make us uniquely qualified to provide a full array of Hotel & Resort services in areas such as:
- Acquisitions & Dispositions Advisory
- Asset Management Services and Consulting
- Debt Placement
- Strategic Planning
- Portfolio Development
- Tracking ownership positions
- Accumulating sophisticated information regarding hotels
- Maintaining strong relationships across industry disciplines
- Properly evaluating financial results and market data
- Providing expert negotiation capabilities and guidance through the closing process
Greg Rice, is a Principal and Founder of Solid Rock Group and is a real estate professional with 40 years of diversified experience in real estate development, leasing, brokerage sales, acquisitions, property management, and asset management. For the last 25 years, Mr. Rice has focused almost exclusively on hotel and resort real estate.
Since founding Solid Rock Advisors in 1991, Mr. Rice has the led the firm’s involvement in transactions totaling $8 billion in volume and involving 190 different properties. These properties have included some of the world’s finest hotels, such as the Four Seasons New York, Las Ventanas in Los Cabos, and the Santa Barbara Four Seasons Biltmore. Mr. Rice has also been involved in significant financial restructuring and loan placements, and has supervised several hundred million dollars of renovations for TY Warner Resorts and Hotels, whom he has represented in all their transactions since 1990. He also acts as an investment advisor to a number of other firms and individual investors.
Mr. Rice’s depth of experience in leasing, sales, acquisitions, financing, syndication management, and construction make him highly qualified within the real estate industry. He maintains contact with an extensive number of buyers and network brokers to ensure his clients the best possible exposure to the marketplace. Greg has a thorough knowledge of leases, contracts, and the required due diligence process in a closing.
Salim Damji is a Principal of Solid Rock Group and leads Solid Rock Advisors East in New York City. Mr. Damji has over 20 years of diverse hospitality-focused experience, including in operations, asset management, acquisitions and development. As a hotel owner/operator, Mr. Damji has a unique perspective on hotel development and asset management and regularly advises owners, developers and investors on acquisitions and dispositions of hotels. With experience as an Advisor with Andersen Consulting and JP Morgan, in Capital Markets at CBRE and in Acquisitions and Development at Starwood Hotels, Mr. Damji brings a comprehensive understanding of hotel investment strategy to the Group’s practice. His experience includes extensive underwriting, having worked on valuations of single assets to full portfolios (of upwards of 200 hotels) and expertise in rebranding, repositioning and strategic planning. His asset management experience includes a 5-star hotel in San Antonio, Texas, from pre-development through its eventual sale, which he assisted in negotiating and which resulted in a 50% profit to shareholders over one year. In May 2016, Mr. Damji represented Cindat, backed by investors including China Cinda Asset Management Co. and Taikang Life Insurance and its affiliate on $571M joint venture of seven premium limited service hotels in Manhattan.
Mr. Damji graduated from Cornell Hotel School with a Master’s in Hospitality Management. He also holds a Master’s of Science in Business from Erasmus University in Rotterdam, The Netherlands and an undergraduate degree in Commerce from the University of British Columbia.
James McCrimmon is a Principal of Solid Rock Group who offices in Colorado. He has been with Solid Rock Advisors since its inception in the early 1990s and brings over 27 years of varied real estate experience to the group. Mr. McCrimmon has completed assignments involving leasing and sales of virtually all property types including office and industrial properties, retail centers, net lease properties, hotels, single and multi-family residential, development land, zero cash flow and even self-storage. He also has extensive experience in financing and refinancing activities, with several billion dollars’ of completed assignments with lenders such as Wells Fargo, Morgan Stanley, Fortress, and Bank of America. Mr. McCrimmon recently managed an exchange of national credit tenant retail centers, along with the origination of a new CMBS loan on one asset and defeasance of another CMBS loan – all occurring simultaneously and involving $70 million in value. Another recent transaction involved representing a Non-Profit in its purchase of an industrial building using a HUD Community Development Block Grant. This process took almost a year and involved negotiation of various agreements with the City and County as well as securing additional grants to ensure the success of the transaction. Mr. McCrimmon’s current focus is on asset management of NNN retail and office properties, brokerage and financing. He currently oversees the Asset Management of non-hotel assets for Solid Rock Group and works on various top-line reporting and special projects for clients.
Working out of Los Angeles, Sunil Isaac is a Manager focusing on Domestic and International Hotel and Resort properties. Mr. Isaac began his real estate career in 2002 and has been involved in the sale and financing of a wide variety of real estate projects across the United States including multi-generational, one-of-a-kind trophy residential estates. He is licensed in California, Texas, New York and Idaho. Sunil has been associated with Solid Rock Advisors since 2009.
Mark Ostridge is a Senior Director and Chartered Surveyor in the United Kingdom with over twenty years’ experience in strategic property asset management within the hotel and leisure sectors. Mr. Ostridge has held senior positions at a number of major hotel groups, most recently as Chief Development Officer at glh Hotels where he was responsible for over-seeing capital investment of £120 million over three years, including the refurbishment of some of London’s most prestigious hotels. During this period, he worked through a lease restructure and development agreement for a 1,000-room flagship hotel in central London. He also completed Management and Technical Services agreements for 5 star hotels and residences in Singapore and Kuala Lumpur. His specialties include lease restructures, M&A, Asset Utilization reviews, and Value-Engineered development and refurbishment. Prior to glh, he served as Property Director at Jarvis Hotels where he supervised the disposal of more than £70 million of underperforming assets in multiple transactions, established an Estate-wide franchise agreement with Accor, and developed an asset and surplus land review which achieved planning permission for 80 residential units on unused land in a joint venture with Sainsbury’s.