News for the Hospitality Executive |
Oct 7, 2010 – Leawood, KS (Metro
Kansas City)
- Leisure Real Estate Advisors,
LLC, is pleased to announce the successful marketing and sale of the
Hampton
Inn & Suites, South Lincoln, NE.
Leisure Real Estate Advisors represented the Owner, LHM Holdings, LLC
in
the transaction. Mike Works of the
Lincoln office handled the specifics of the deal, with referral
assistance from
David Jones of Leisure’s Kansas City office.
The Hampton Inn had a history of very strong performance and is located
in a high growth area of south Lincoln.
The market is supported with substantial demand generators,
including the University of Nebraska and the State Capital
complex. Harbinger Holdings, LLC, Ames,
IA purchased the 82 unit hotel for an undisclosed price. The listing
price was
$7,200,000. “This transaction posed a number of
challenges, including the economic climate and a securitized mortgage”,
comments
Brent A. Jaynes, co-founder of Leisure Real Estate Advisors. With
that in mind, Mike Works comments were
similar. “Although Hampton Inn &
Suites is a wonderful flag, closing any deal in today’s economic
environment is
not easy, explains Works. This transaction was a positive testament to
all
parties, as they worked diligently to achieve this closing.” The
new owners will retain the Hampton flag under a new agreement with
Hilton Hotels.
Mike Works,
Senior Investment
Assoc, 402-416-3522 or [email protected]. Brent A.
Jaynes, Principal,
913-499-4731 or [email protected].
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Contact: Leisure Real Estate Advisors, LLC Leawood Executive Centre II 4501 College Blvd, Suite 205 Leawood, KS 66211 www.leisurerealestate.com
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