HREC Capital Markets Team

Mike Armstrong - Principal
Email:  [email protected]
Phone: 760-931-5606

Mike Armstrong is a Principal and head of HREC's® capital markets practice. A 35-year hotel industry veteran, Mike brings extensive experience in debt & equity financing, hotel real estate sales, development, acquisitions, dispositions, and hotel management to his leadership role with the company. Prior to HREC®, Mike was the founder and CEO of Neptune Hospitality Advisors where he directed the company's advisory activities, including raising debt & equity capital, investment sales brokerage, and asset management services. Previously, he held executive positions with Insignia/ESG, Hotel Partners, and Metro Hotels. Over his career, Mike completed over $2.5 billion in real estate sales and financing.  Mike is a California licensed real estate broker and a graduate of the University of North Texas where he earned a BBA with concentrations in Real Estate and Finance.

Gregory Porter - Managing Director
Email:  [email protected]
Phone: 949-500-7314

Greg Porter is a Managing Director and dedicated mortgage and structured finance specialist within HREC’s capital markets practice. Greg is a +20 year commercial real estate finance veteran with extensive experience in fixed-rate, floating-rate and mezzanine lending with over $1.6 billion in financings completed. Greg owned and managed his own mortgage brokerage firm and held loan officer positions with lenders MC-Five Mile Capital, Merrill Lynch, and Bear Stearns dating back to 1997. Greg has extensive experience in single-asset and portfolio acquisition, refinance, and recapitalization financings applying senior, subordinate, and preferred equity strategies. Greg began his career as a commercial real estate appraiser with a regional appraisal firm and then as a Senior Real Estate Analyst with the Arthur Andersen real estate advisory practice in Los Angeles.  Greg holds a Bachelor of Science degree in Business from the University of Southern California and is a licensed California Real Estate Broker.

Joe O’Loughlin – Senior Vice President
Email: [email protected]
Phone: 617-733-1658

Joe O’Loughlin is a Senior Vice President in the HREC Investment Advisors Capital Markets Group. Joe is based in Boston where he is a trusted client advisor for hotel debt and equity matters. Joe has 35 years of experience in commercial real estate and hotel finance including 23 years with Wells Fargo Bank where he was a founding member of the Hospitality Finance Group. While at Wells Fargo Joe had credit and line responsibility for East Coast institutional hotel clients with average total commitments >$1 billion. Responsibilities included the sourcing, underwriting and closing of large senior/secured/structured hospitality loans for balance sheet hold and syndication. Loan types included pre-development, construction (ground up and conversion), acquisition/renovation and mezzanine financing. Focusing primary on the eastern United States, Joe’s relationship base includes family owner/operators/developers, institutional management companies, private equity funds, life insurance companies and REITs.

John Siska - Vice President
Email:  [email protected]
Phone:  603-494-3654

John Siska is a 36- year veteran of the hospitality and resort industry. John brings the combined experience of hotel debt placement, investment sales brokerage and hotel and resort operations. He has facilitated over $250 million in hotel sales and debt assignments. Prior to joining HREC, John was Senior Vice President for O’Connell Hospitality Group and handled all debt projects within the group in the Northeast. He previously served as Managing Director for the Hotel Investment division for Bedford Capital Corporation, a Northeast Boutique Investment Banking firm providing debt exclusively to the hotel industry. John has completed numerous CMBS, Bridge, Construction, Acquisition and Refinancing transactions for his client base. He has extensive experience in investment analysis, debt re-structuring and strategic planning. Prior experience includes managing five full service hotels in the greater Boston metro area for Peabody Hotel Group and Fine Hotels. John is a graduate of the University of Massachusetts Hotel School and currently serves as an active member of the Hotel School’s Leadership Board.

Justin Goodenow - Vice President
Email: [email protected]
Phone: 248-345-7674

Justin has joined HREC’s Capital Markets team as a Vice President after working two and a half years as an analyst with the company. Due to this, Justin has ample exposure to the hospitality real estate world, having worked on several deals from the Investment Sales side to the Financing side all across the US. Before joining HREC, Justin had experience in real estate management and construction through the Michigan State Foundation, primarily focusing on research labs and buildings of higher education. He has also worked as a Front Office intern at a select service Marriott property, as well as worked several rotational positions on the operational side of the hospitality industry. Justin is a graduate of the School of Hospitality Business at Michigan State University, with a specialization in real estate investment.

Bhavesh (B.J.) Patel - Senior Vice President - Investment Sales/Capital Markets
Email:  [email protected]
Phone:  404-940-5108

With over 20 years of dedicated real estate experience in the hotel industry, and a lifetime in the hotel world, Patel previously was managing director at a national, boutique real estate capital advisory firm specializing in lodging. At this firm, Patel participated in the highlight sales of the Marriott Saddle Brook, in Saddle Brook, New Jersey and The Yachtsman Resort in Myrtle Beach, South Carolina, and many premium branded select service assets. Prior, Patel was senior managing director at Newmark, where his transaction involvement included the Trypp Hotel Downtown Savannah, the RL Baltimore, the Courtyard Columbia Downtown at USC. In total, Patel has been involved in over $1.5M billion in investment sales throughout the U.S., across all property types and various complex dispositions, including REO, receivership, partially constructed assets, C of O deals, land, etc. Patel brings operational experience to his toolbox, having also worked at various family operated properties, at the 510-room Hilton Atlanta Airport, as the assistant director of finance and chief accountant, and with NYLO Hotels as development manager, where he was involved with everything leading up to construction permitting phase. He has further experience with the Procaccianti Group, as an associate on the acquisitions team. Having graduated from Clemson University with a double Bachelor of Science in Finance and Business Management, Patel also has an MMH from the Cornell University School of Hospitality Administration, with a concentration in real estate. Other than Broker Life, his other passions are travel, the gym, spending time outdoors, and his family.