Irvine, California - APRIL 5, 2004 - Todd Good,
National Director, Accelerated Marketing Group (AMG), announced today that
the Accelerated Marketing Group, along with their Arizona joint venture
partner Tucson Realty & Trust, has been retained to conduct on May
13, 2004, in the Honorable Eileen W. Hollowell�s U.S. Bankruptcy court,
the auction of 173 room hotel located at 5251 S. Julian Drive, Tucson,
Arizona.
| �The property to be offered is the173
room hotel on 5.40 acres plus a 7,955 square foot stand alone restaurant
on an additional 1.24 acre separately parceled property. Both
properties will be offered as one transaction. Stated Rod Apodaca,
National Director, Hospitality Division, AMG, �This U.S. Bankruptcy
ordered hotel auction offers the smart hotel investor an excellent opportunity
to �buy right.� The Court has ordered the sale to have no reserves
or minimum bids. The Suggested Opening bid of $1,000,000 (or $5,780
per room) will be the starting point for the auction and may go up or down,
subject to bidding activity.�
The hotel is located just off Interstate 10 and is comprised of two
separate buildings overlooking four individual courtyards each with
their own Jacuzzi�, and one main swimming pool. The restaurant offers
excellent frontage along Palo Verde Avenue.
All bidders will be required to, attend an open house, purchase a due
diligence packet, show financial ability, pre-register and present a cashier�s
check for $100,000 the day of the auction as initial earnest money.
On-site inspections dates are April 13, 28 and May 12, 2004 from 12:00p.m.
- 2:00p.m. |
Hotel Front Entrance
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Restaurant Building
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Hotel Pool |
The Accelerated Marketing Group is a professional real estate accelerated
marketing, brokerage and consulting firm located in Irvine, Ontario, and
San Diego, California, Tucson, Arizona and Louisville, Kentucky.
For more information about this offer and the Accelerated Marketing
Group please call (949) 253-4626. Accelerated Marketing Group, 2102
Business Center Drive, Suite 155, Irvine, California 92612. |