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SAN DIEGO-RockBridge Capital LLC, a capital provider for the hospitality industry, has expanded its operations to the local market. The Columbus, OH-based firm will run its business for the western states from its San Diego office. The company considers itself a boutique hospitality investment bank and will cover everything from traditional first mortgage debt to coming in to structure deals from an equity or mezzanine standpoint.RockBridge has done past projects in San Diego, Los Angeles and Phoenix in the western region and will be evaluating different projects throughout the western states. In the San Diego area, the firm's participated in deals including being part of the overall capital structure for the Hampton Inn in Downtown San Diego and the Hampton Inn in Del Mar Carmel Valley.In addition to moving into the local market, RockBridge has hired local industry vet Mark Crisci as senior vice president for the investment group to run its western operations. Crisci has more than 14 years experience in the market, including stints as SVP of business development for BankersBanc SFG and as vice president of business development for GMAC Commercial Mortgage. His career also includes time with K Partners Hospitality Group, U.S. Franchise Systems Inc. and Holiday Inn Worldwide. Crisci tells Globest.com RockBridge "does not like to considered just traditional lenders. While it's a big aspect of our business, we can do more than that." He says that by structuring a loan, RockBridge allows, for instance, a developer to try and maximize the leverage in any particular project. "That's important because it's so expensive to build today in California," Crisci adds. Established in 1993, the company has formed and managed six closed-end real estate funds with institutional and high net worth investors. The firm has also invested over $550 million in more than 250 properties, with its capitalization of deals topping $3.5 billion.
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