Kansas City (913) 381-3737 Chicago (312) 262-5930 info@whikc.com

WHI Announces Sale of Value Place, Gastonia, NC

Warmbrodt Hotel Investments (WHI) announced today they closed the sale of Value Place Gastonia, NC.  WHI was the exclusive adviser on behalf of the seller. The property was sold to an institutional investor at an undisclosed price.  The purchaser will renovate the property to current Value Place standards.

The extended-stay hotel is interior corridor with 4 stories and 121 rooms.  Value Place is a  uniquely branded premier low-cost extended-stay hotel, specializing in clean and secure weekly lodging with a commitment to comfort, privacy and peace of mind.  The highly efficient operating model allows an investor to benefit from the rate adjustability of a hotel but the operating costs of a multi-family apartment building.

“The Charlotte metropolitan area is a highly sought after real estate market,” commented Zane Varvel, Vice President of WHI.  “Investors are paying market cap rates for strong performing, well located properties in the economy extended stay sector.  The opportunity to obtain and increase cash flow is becoming more scarce in today’s market.”


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Please Join Us at The Lodging Conference 2014

PROUD SPONSOR of
THE LODGING CONFERENCE 2014
October 20 – 23, 2014, Arizona Biltmore Resort & Spa

PLEASE JOIN US . . .
Deal Corral
Tuesday, October 21, 2014  |  2:30pm – 5:50pm

Session W-12 Negotiating a Hotel Sale and Purchase
Wednesday, October 22, 2014  |  1:45pm – 3:00pm
Herb Warmbrodt, Panelist

OR we welcome an opportunity to meet with you individually. Please call or email us to schedule a meeting.

Herb Warmbrodt
(913) 381-3737, herb@whikc.com

Zane Varvel
(312) 262-5930, zane@whikc.com

Lewis Thompson
(646) 535-5785, lewis@whikc.com

We look forward to seeing our friends and colleagues in attendance.


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WHI Announces Sale of Value Place, Topeka, KS

Warmbrodt Hotel Investments (WHI) announced today they closed the sale of Value Place Topeka, KS.  WHI was the exclusive adviser on behalf of the seller. The property was sold to an institutional investor at an undisclosed price.  The purchaser will renovate the property to current Value Place standards.

The extended-stay hotel is interior corridor with 4 stories and 105 rooms.  Value Place is a  uniquely branded premier low-cost extended-stay hotel, specializing in clean and secure weekly lodging with a commitment to comfort, privacy and peace of mind.  The highly efficient operating model allows an investor to benefit from the rate adjustability of a hotel but the operating costs of a multi-family apartment building.

“As Value Place continues with corporate and franchise expansion, the investment community is becoming more and more familiar with its high yielding model,” commented Zane Varvel, Vice President of WHI.  “The lender remained involved in a new loan, showing the growing appetite banks also have for these assets.”


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Warmbrodt Hotel Investments Announces Sale of the Ramada Inn & Conference Center Hutchinson, KS

Warmbrodt Hotel Investments (WHI) announced today they closed the sale of the Ramada Inn & Conference Center in Hutchinson, KS.  The property was in receivership and sold to a regional full service hotel investor for an undisclosed price.  The purchaser will renovate the property with significant upgrades.

The hotel and Conference Center is a 215 guestroom, two-story, full-service hotel built in 1977.  It features nine meeting/banquet rooms, 6,000 square feet atrium area and Grand Slam Sport Bar.  The Conference Center is the largest in the area and can service small business meetings to national trade shows with banquet seating up to 1,200 and theater seating up to 2,100.  Hutchinson is just 44 miles from Wichita. Hutchinson Municipal Airport is two miles from the hotel.

“Cooperation by the receiver, lender, and buyer helped overcome the challenges of the property,” commented Zane Varvel, Vice President of WHI.  “The property performed consistently over the past several years, with new ownership investing significantly to enhance the hotel’s presence in the Hutchinson community.”


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CALL FOR OFFERS – HOTEL INVESTMENT OPPORTUNITY

Three Property/Full-Service Portfolio
Odessa, TX, Dallas, TX and Albuquerque, NM

Warmbrodt Hotel Investments is pleased to present for sale the fee simple interest in a Three Property/Full-Service Portfolio with properties in Odessa, TX, Dallas, TX and Albuquerque, NM. The Call For Offer details are as follows:

  • Offers and supporting materials are due on or before 5:00 PM CST on Friday, October 10, 2014
  • Your offer should be submitted in the form of a Letter of Intent (“LOI”) addressing the Purchase Price, Due Diligence Period, Closing Period and Earnest Money Deposit.  The Seller’s LOI form is available in the Virtual Deal Room upon completing the Confidentiality Agreement or by email request to info@whikc.com

As supporting material for your offer, please provide the following:

  1. Information about your company and key principals that would be involved in the transaction
  2. Please indicate if you conducted a guided site visit of the Property
  3. Financing Strategy (Debt and Equity)
  4. Proof of Funds for the Equity Portion of the total planned capital investment

View the Executive Summary for more information.

Bypass the online summary and directly execute the Confidentiality Agreement.

INVESTMENT HIGHLIGHTS

  • Capitalization Rate of 10.04% through July 2014 based on NOI of $5,663,395 after 3% Management Fee and 4% Reserve
  • Major southwestern markets represented in Odessa, Dallas and Albuquerque
  • Opportunity to purchase a portfolio producing a significant return and the ability to reposition two assets with select franchises to increase returns
  • Portfolio consists of 781 rooms
  • The Properties within the Portfolio are constructed with concrete and brick; have up to date life safety equipment; and have been very well maintained by current owner
  • Portfolio will be delivered free and clear of management and existing affiliation
  • Excellent conversion opportunities in all markets to brands such as Red Lion, Four Points by Sheraton, Ramada Plaza, Radisson, Wyndham and Clarion

 

 


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CALL FOR OFFERS – HOTEL INVESTMENT OPPORTUNITY

Best Western Plus Olathe Hotel & Suites

Olathe, Kansas

Warmbrodt Hotel Investments is pleased to present for sale the fee simple interest in the Best Western Plus Olathe Hotel & Suites. The Call For Offer details are as follows:  
  • Offers and supporting materials are due on or before 5:00 PM CST on Monday, September 15, 2014
  • Your offer should be submitted in the form of a Letter of Intent (“LOI”) addressing the Purchase Price, Due Diligence Period, Closing Period and Earnest Money Deposit.  The Seller’s LOI form is available in the Virtual Deal Room upon completing the Confidentiality Agreement or by email request to info@whikc.com
As supporting material for your offer, please provide the following:    
  1. Information about your company and key principals that would be involved in the transaction
  2. Please indicate if you conducted a guided site visit of the Property
  3. Financing Strategy (Debt and Equity)
  4. Proof of Funds for the Equity Portion of the total planned capital investment
View the executive summary for more information.

 

INVESTMENT HIGHLIGHTS 

  • 67 keys including 35 suites
  • Delivered free and clear of management
  • Opportunity to purchase a property with significant and increasing cash flow
  • Desirable location within the greater Kansas City market
  • Attractive price offering at 3.44X gross room multiple and 10% capitalization rate
  • SBA financeable
  • Price affords new operator to purchase significantly below replacement costs, and experience the increase in revenues as market continues improving
  • New contemporary design and excellent condition will require minimal initial capital
  • 154-room, nearby Holiday Inn is offline converting to assisted living, significantly reducing room supply in the area

 


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WHI Announces Sale of the Holiday Inn Lubbock-Park Plaza

Warmbrodt Hotel Investments (WHI) announced today they closed the sale of the Holiday Inn Lubbock-Park Plaza.  The property was sold on behalf of Hotel West II, LP to Cornerstone Hospitality, LLC for an undisclosed price. The purchaser will renovate the property and convert it to a Clarion.

Built in 1972, the two-story, atrium-design building consists of 201 over-sized guest rooms, and is conveniently located just 11 miles from Lubbock International Airport (LBB), 5 miles from Texas Tech University and a 14-minute drive from The Depot, Lubbock’s entertainment district.  The Property contains a state-of-the-art fitness center, an over-sized indoor pool, sauna, restaurant and 25,000 square feet of wedding/meeting facilities.

“We are pleased with the investment community response to this opportunity, resulting in multiple offers from local and regional owners/operators,” commented Herb Warmbrodt, President of WHI.


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WHI Announces Sale of the Hawthorn Suites by Wyndham, Omaha Central

Warmbrodt Hotel Investments (WHI) announced today they closed the sale of the Hawthorn Suites by Wyndham, Omaha Central.  The property was sold on behalf of Bayview Asset Management for an undisclosed price. The purchaser will retain the Hawthorn Suites franchise by Wyndham and renovate the property.

The Property has an excellent location on 72nd Street, north of Interstate 80, east of Interstate 680 and south of Dodge Street in the heart of the Omaha Midtown submarket, proximate to major business, scholastic and leisure demand generators.

“The unique property configuration made this real estate offering challenging for the investment community. The buyer is a successful Omaha operator that knew there is limited downside risk investing in room sizes of 600 square feet, giving it an advantage over the competition” commented Zane Varvel, Vice President of of WHI at the Chicago office. “Investors looking for better returns are now needing to get creative in today’s environment.”


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WHI Announces Sale of the Red Roof Inn Jamestown-Falconer

Warmbrodt Hotel Investments (WHI) announced today they closed the sale of the Red Roof Inn Jamestown-Falconer, in western New York.  The property was sold on behalf of the institutional owner for an undisclosed price.  The purchaser will retain the Red Roof Inn franchise and renovate the property to new NextGen standards.  The disposition is part of Red Roof Inn’s ongoing initiative to improve the brand and grow awareness nationally.

Consistently rated among the leaders in guest satisfaction by J.D. Power and Associates, Red Roof has invested extensively in capital improvements and brand awareness with the implementation of a new development team.  They expect to expand to 400 properties by the end of the year.  The recently announced brand extension, Red Roof PLUS+, shows how the company continues to innovate.

“Our clients have done an outstanding job of improving Red Roof Inn in every facet of hospitality,” commented Zane Varvel, Vice President of WHI’s Chicago office.  “The Jamestown buyer is a partnership of existing Red Roof franchisees who recognize the potential of the brand’s continued growth and performance.  It has been a pleasure helping and learning from everyone involved.”


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Ramada Inn and Conference Center Hutchinson

HOTEL INVESTMENT OPPORTUNITY

Warmbrodt Hotel Investments has been retained as the Exclusive Agent to extend to qualified principals, the opportunity to acquire the Ramada Inn and Conference Center Hutchinson, Kansas.

Investment Highlights

  • Full-service hotel, 2-story, 215-rooms in good condition
  • Largest Conference Center in the area
  • Demand generators include Hutchinson Municipal Airport, Siemens Energy, Collins Industries, Alcoa Aerospace, Cargill, Hutchinson Community College, Mega Manufacturing, Westar Energy, Dillons Corporate and Tyson
  • Ramada Worldwide desires to keep the property in the system
  • New roof
  • Consistent Revenue the past 3 years

Exclusively Represented by:

Zane Varvel in Chicago at (312) 262-5930, zane@whikc.com   

Lewis Thompson in Chicago at (646) 535-5785, lewis@whikc.com


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