Warmbrodt Advises in Sale of America's Best Inn, Des Moines, IA
KANSAS CITY, MO, June 30, 2009 - Warmbrodt Hotel Investments, Inc.("WHI") announced today it advised in the sale of the 92-room America's Best Inn located in Northwest Des Moines, Iowa. The property has good visibility and is located within one block of Interstate 35 and Interstate 80 on Merle Hay Road. The two-story, brick exterior property opened in 1991. This interior corridor property is situated on 10 acres.
America's Best Inn is located at the intersection of two major US Interstate Highways, which has made Des Moines a stable hospitality market and business community, with a metropolitan population of over 500,000. Fortune 500 company Principal Financial Group has anchored a large insurance services presence in the city, such as Marsh, EMC Insurance Group, Allied and Amerus Group to name a few. Both Hy-Vee and Kum and Go are headquartered in Des Moines and large operations from Wells Fargo, ING Group Electronic Data Systems, John Deere, UPS and Blue Cross Blue Shield help to contribute to the strong growing economy of Des Moines.
Zane Varvel of WHI said "We have seen the investment market change dramatically over the last two years and are very encouraged by the activity of buyers with strong banking relationships still making strategic acquisitions. It is a pleasure working with Warmbrodt Hotel Investments to better serve our clients through all points in the real estate cycle."
WHI represented the seller, KCCT, Inc. in the purchase by a local investor. The property will undergo substantial interior and exterior renovations. The new owners are negotiating with two national chains for conversion.
WHI is a Kansas City based, hotel real estate firm that specializes in the disposition, acquisition, financing and debt restructuring of hospitality related assets throughout the United States. Contact us directly at (913) 381-3737 or visit our website at www.whikc.com to learn more about how our years of experience and specialized services can help meet your business goals.
For more information please contact Herb Warmbrodt at (913) 381-3737 herb@whikc.com or Zane Varvel at zane@whikc.com.
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