Leisure Advisors Announces Sale of Hampton Inn, South Lincoln, NB
Leawood, KS - October 7, 2010 - 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.
Leisure Real Estate Advisors, LLC is based in metro Kansas City, with offices in Lincoln, NE, 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 has its challenges, we are still seeing a good deal of activity. It is encouraging to observe positive indicators as the fundamentals of the industry shows signs of improvement.” For more information on this sale or to discuss the investment market in general, please direct your questions to:
Mike Works, Senior Investment Assoc, 402-416-3522 or mworks@leisurerealestate.com.
Brent A. Jaynes, Principal, 913-499-4731 or bjaynes@leisurerealestate.com.
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