October 24th, 2011 - Leisure
Real Estate Advisors, LLC, is pleased to announce the successful sale
of the
Staybridge Suites hotel located in Columbia, MO. Leisure Real Estate
Advisors
represented the Owner, Hotel Columbia, LLC, in the transaction. LOF
Columbia,
LLC, purchased the 82 unit extended stay hotel for an undisclosed
price. The
listing price was $4,250,000. "This Staybridge received a high level of
investor attention, given its price point, the flag and its I-70
location near
Columbia Regional Hospital", comments Brent A. Jaynes, co-founder and
managing partner of Leisure Real Estate Advisors. He goes on to say,
"Columbia
has experienced its challenges with regard to competition. However, it
is
recovering and will still be an attractive market based on the presence
of the
University of Missouri, a variety of strong corporate clients and the
hospital."
LOF Columbia, LLC represents a
lodging opportunity fund with ownership and management interests in
other
Staybridge hotels. The buyer will retain the Staybridge Suites
franchise under
a new agreement with IHG. The hotel was converted to the Staybridge
brand in
2008 and LOF anticipates substantial additional product improvements.
"Transacting hotel deals these days is no walk in the park. This
transaction presented a number of different challenges and both parties
worked
diligently to produce the final result," said Jaynes.
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 12 year existence, the company
has
become one of the premier hotel brokerage firms in the country. Mr.
Jaynes further
remarked, "Although this market presents its challenges, we are still
seeing a good deal of activity, which is quite encouraging. If the
fundamentals
of the industry continue to improve, activity will increase and more
deals will
get done."
For more information on these investment opportunities or to discuss
the
investment market in general, please direct your questions to: