WFC Wells Fargo and Company

Wells Fargo Commercial Mortgage Provides $10.5 Million Construction Loan for AmeriTel Inn in Salt Lake City SALT LAKE CITY, May 19 /PRNewswire/ -- Wells Fargo Commercial Mortgage said it has provided $10.5 million for the construction and term financing of a 133-room AmeriTel Inn in the Salt Lake City area. The four-story hotel includes 3,155 square feet of meeting space and is located at 250 West 600 South, ten miles southeast of the Salt Lake International Airport and two blocks west of the TRAX light rail. AmeriTel Inns are business class hotels that include double layers of insulation on interior walls for superior sound reduction, double-pane glass doors and windows to reduce exterior noise, insulation on exterior ceilings, marble and slate floor coverings in public areas, and 24-hour services in the pool areas, fitness centers, and business centers. This AmeriTel Inn is owned by Hotel SLC, LLC, of which Glen Black and his entities (including the Glen & Peggy Black Family Limited Partnership) have majority ownership and control. Glen Black has been in hotel management since 1958 and is currently managing eleven hotels through AmeriTel Inns, Inc., his Boise-based hotel management company. He has been a customer of Wells Fargo since 1987, and Wells Fargo has provided construction financing for eight of the last ten hotel projects he has built. "Glen Black has a fantastic eighteen-year history with Wells Fargo," said Beverly Geddes, Office Manager with Wells Fargo Commercial Mortgage in Boise, Idaho. "Obviously his strong background in hotel management and level of respect in the community are great assets. AmeriTel Inn is known as a premier hotel chain in the Northwest, and that's a result of good management." "Our thanks go to Wells Fargo," stated Glen Black, Chairman of AmeriTel Inns, Inc. "They know us and our business well enough that we can feel confident that the financing is in place and concentrate on our actual business goals." Glen Black, Chairman of the Board of AmeriTel Inns, Inc., and the Black family entered the hospitality industry in 1970. In 1992, AmeriTel Inns, Inc. was founded and headquartered in Boise, ID. Currently, the company owns and operates eleven upscale mid-service properties located throughout the Northwest U.S. in Idaho, Washington, Nevada and Oregon. Visit AmeriTel at http://www.ameritelinns.com/. Wells Fargo Commercial Mortgage (wellsfargo.com/cmg) provides lending, servicing and advisory solutions to the commercial real estate industry. Their customer base includes a broad spectrum of middle market investors and developers throughout the United States. Wells Fargo & Company (NYSE:WFC) is a diversified financial services company with $436 billion in assets, providing banking, insurance, investments, mortgage and consumer finance to more than 23 million customers from more than 6,000 stores and the internet (wellsfargo.com) across North America and elsewhere internationally. Wells Fargo Bank, N.A. is the only bank in the United States to receive the highest possible credit rating, "Aaa," from Moody's Investors Service. Contact: Joe Kerwin 760-918-2700 Wells Fargo DATASOURCE: Wells Fargo Commercial Mortgage CONTACT: Joe Kerwin of Wells Fargo Commercial Mortgage, +1-760-918-2700 Web site: http://wellsfargo.com/cmg http://www.ameritelinns.com/

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