November 29, 2010 - Due to the high level of interest
in the Residence Inn by Marriot NW, San Antonio, Texas; our client is
requesting a Call for Offers.
We are pleased to announce a Call for Offers deadline has been
established for Tuesday, December 7th, 2010.
All offers should be submitted by
5:00 PM CST to Herb
Warmbrodt at [email protected]
or via facsimile (913) 381-6767.
Please be advised of the
following requirements for submitted offers:
- All
offers must be in writing using a Letter of Intent ("LOI") addressing
the Purchase Price, Due Diligence Period, Closing Period and Earnest
Money Deposit.
- In addition
to the submission of the LOI, please also provide the following: (a)
financial information for yourself and any partners (as applicable),
highlighting the necessary equity required to close the transaction;
(b) a resume on hotel ownership and management experience; and (c)
sources of financing.
- If you require another tour of the
Property, or if you have not already toured-please contact Herb
Warmbrodt to arrange a tour. Offers submitted by parties who have
toured the Property will be given preference.
Investment Highlights:
- Property is offered at
$5,500,000-$42,968 per suite, GRM of 2.2X
- Located adjacent to USAA Corporate
Headquarters and proximate to numerous demand generators including,
Methodist Health Care and Medical Center, South Texas Medical Center,
University of Texas Health Science Center, Christian Santa Rosa
Children's Hospital, University of Texas-San Antonio Campus and Valero
Oil Corporation.
- Delivered free and clear of management
and franchise.
- Competitive Set has experienced 13%
increase in Occupancy in 2010 compared to 2009.
- Property is in excellent condition having
received capital improvements in 2005, 2006 and 2007.
- Opportunity to convert to new franchise
such as Country Inn & Suites or Hawthorn Suites.
- Financing available to qualified
investors.
For more information regarding the Residence Inn by Marriott NW San
Antonio,
please contact Herb Warmbrodt,
at [email protected]
or (913) 381 3737.
WHI is a Kansas City
based hotel real estate firm specializing in the
disposition, acquisition, financing and debt restructuring of
hospitality
related assets throughout the United States.
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