Warmbrodt Advises in Sale of 242-suite Value Place, Las Vegas
October 25, 2010 - Warmbrodt Hotel Investments, Inc. ("WHI") represented Nevada New River Return, LLC as exclusive advisor in the sale of the Value Place Extended Stay-Nellis Air Force Base, located in Las Vegas, Nevada for an undisclosed price. The listing price was $13,000,000. The buyer was Hugh Black-St. Mary Enterprises, Inc. based in Houston, Texas.
The 242-suite property consists of two, four-story interior corridor buildings, which opened in January of 2011. The property is located within one block of the main entrance of Nellis Air Force Base which employs over 13,000 military and civilian personnel, in addition to over 1,300 temporary duty personnel.
WHI is a Kansas City metropolitan based real estate firm which provides real estate brokerage and investment banking services exclusively to the hospitality industry; specifically in the acquisition, disposition, financing, equity placement and existing debt restructuring of hotel assets, throughout the United States.
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