Leisure Real Estate News

Leisure Real Estate Advisors announce over $30 Million in sales

Sunday, December 19 2004 2:00 PM
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(LEAWOOD- KS)-- The sale of hotel assets within the midwest and nationally continue at a very active pace. Since the tragedy and terror of 9/11, the hospitality travel industry has steadily reclaimed lost business to generate record revenues in 2004. Industry pundits predict continued occupancy, rate and revenue growth through 2007. The revival of business and transient travel, as well as record low interest rates, has fueled a lively climate of deal making.

Leisure Real Estate Advisors, LLC based in Leawood specializes in the sale of hotel real estate. Formed in 1998, Leisure Real Estate Advisors has grown to become one of the leaders in hotel brokerage, regionally and nationally. Within the past six months Leisure Real Estate Advisors has brokered over $30 Million in regional and local hotel assets. “We have been very pleased with the growth of our sales revenue,” says Brent Jaynes, Director of Brokerage Services. We have added two key experienced senior brokers who have dramatically contributed to our growth. Given our success, we have definite plans to continue our expansion by adding quality, experienced people”.

Of the recent closings, several of the most noteworthy included a two-property Country Inn and Suites portfolio, located in Lincoln, NE and Salina, KS. The listing price was $11 million and was brokered by Rick Hagerman, Senior Investment Broker in the Leawood office.

Other recent local sales include the Holiday Inn Express, Lee’s Summit, Missouri, the Hampton Inn in Topeka, Kansas, the Holiday Inn Express, Beatrice, Nebraska and the Days Inn, McCook, Nebraska, the latter being sold by Michael Works, Senior Associate, in the Lincoln, NE office. “We are very optimistic about the future, comments Jaynes. Although hotels are often thought to be somewhat volatile, they also represent an operating business with a significant real estate component, a business model that will always attract investment. Going forward, we plan to play a major role in helping owners and investors”.

Leisure Real Estate Advisors is an affiliated company to the Kansas-based Leisure Group of Companies, a full service hospitality company that provides the entire spectrum of hotel real estate services from development, management, finance, human resources, IT services, marketing and brokerage services. Leisure is one of the industry’s fastest growing multifaceted full service hotel companies in the United States with corporate offices in the Kansas City Metro area.

For additional information about the Leisure Real Estate Advisors and its services, visit the company’s website at www.leisurerealestate.com or contact Brent Jaynes directly at 913-894-5252.

New Associate Hire

Sunday, December 19 2004 1:56 PM
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Leisure Real Estate Advisors, LLC continues growth, hires new Associates (LEAWOOD, KS) -- Brent Jaynes, Director of Real Estate for Leisure Real Estate Advisors, LLC proudly announced today the appointments of Rick Hagerman, Senior Associate – Kansas City and Mike Works as Senior Associate- in the newly formed Lincoln, NE office. Jaynes commented, “It is with great pleasure that we announce Mr. Hagerman and Mr. Works as part of our real estate team. Mr. Hagerman’s experience in originating, structuring, and acquiring investments within the hotel real estate industry is unsurpassed as is Mr. Works' experience in owning and operating hotels, and arranging financing and refinancing in the millions of dollars. Both gentlemen offer extensive knowledge of the hotel business and will be of great assistance to us as we continue our expansion efforts in 2004.”

Mr. Hagerman has completed over 96 acquisitions, dispositions, and asset restructuring totaling over $400 million. He previously served as Director of Real Estate for American Executive Management Company, where he served as lead manager in brokerage and site acquisitions. As Director of Real Estate Acquisitions for Selco, he assisted in the placement of over $130 million in debt and equity to facilitate several acquisitions through Bear Stearns and Westinghouse. Mr. Hagerman has a Bachelor of Science in Business from Kansas State University with a minor in Psychology.

Mr. Works is the previous owner of Midwest Hotel Motel Brokers, LLC, located in Lincoln, Nebraska, and owns and operates several hotels and motels in the Midwest. Mike is a licensed attorney in both Nebraska and Wisconsin and has extensive experience in hotel brokerage legal matters including contractual obligations, zoning and subdivision issues. Mr. Works graduated cum laude from the University of Wisconsin Law School in 1995. He earned his Bachelor’s degree with high distinction from Concordia College in Seward, Nebraska, where he was given the award of Outstanding Liberal Arts Student. Leisure Real Estate Advisors, LLC hires new Associates February 13, 2004

Founded in 1998, Leisure Real Estate Advisors, LLC has rapidly grown to become one of the industry’s fastest-growing hotel brokerage firms. With offices in the Kansas City Metro area and in Lincoln, Nebraska, LREA specializes in custom marketing plans using the latest technological developments and is regarded as one of the leading hotel brokers in the nation by industry publications. Leisure Real Estate Advisors is frequently quoted and included in HOTEL BUSINESS® as well as the HOTEL BUSINESS® Green Book, the most comprehensive source book for information on the hotel industry. Leisure Real Estate Advisors operates as an affiliate company of Kansas-based Leisure Group of Companies, which specializes in the development, management and real estate of hotels in the limited-service, suite-, resort- and full-service markets.

For additional information about Leisure Real Estate Advisors and its services, visit the company’s website at www.leisurerealestate.com or contact the company directly at 913-894-5252.