News for the Hospitality Executive
July 12 2011 - Leisure Real Estate Advisors, LLC, is pleased to announce the successful sale of the Staybridge Suites hotel located in West Des Moines. Leisure Real Estate Advisors represented the Owner, Hotel Wes Des Moines, LLC, in the transaction. Kelly Inns Midwest, Inc purchased the 90 unit extended stay hotel for an undisclosed price. The listing price was $6,500,000. "Given the brand and the location, the Staybridge received a high level of investor attention, in spite of the challenges within this economic environment", comments Brent Jaynes, co-founder and managing partner of Leisure Real Estate Advisors. He goes on to say, "West Des Moines is well known in the Midwest for its vibrant business climate. Furthermore, Kelly Inns was highly professional and did an outstanding job in negotiating the PIP. They certainly worked diligently to achieve this closing."
The buyer will retain the Staybridge flag under a new agreement with IHG. The Staybridge Suites is located in the northeast quadrant of I-80 and Jordon Creek Parkway, near noted corporate giants such as HyVee & Wells Fargo mortgage and credit card divisions.
Leisure Real Estate Advisors, LLC is based in metro Kansas City and has a specialty concentration in the marketing and sale of hotels. Over its 11 year existence, the company has become one of the premier hotel brokerage firms in the central US. Mr. Jaynes further remarked, "Although this market is still a long ways from being recovered, we are still seeing a good deal of activity, which is quite encouraging. In the end, if a hotel has attractive cash flow, it will get attention."
For more information on these investment opportunities or to discuss the investment market in general, please direct your questions to:
Brent A. Jaynes, Principal, 913-499-4731 or [email protected].
Leisure Real Estate Advisors, LLC
Leawood Executive Centre II
4501 College Blvd, Suite 205
Leawood, KS 66211
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