DENVER, Colorado; KANSAS CITY, Missouri; Houston, Texas—HREC Funding Advisors introduced it has organized the sale of the 70-guestroom Hampton Inn Glenwood Springs and the 64-guestroom Vacation Inn Specific Glenwood Springs, each situated in Glenwood Springs, Colorado. Nightcap Administration, a Lincoln, Nebraska-based full-service improvement firm, acquired the properties. Over the previous 5 years, the Principals of Nightcap Administration have developed and bought over 15 accommodations with a mixed worth of over $200 million.
HREC Funding Advisors solely represented the vendor, Terrapin Investments, on this transaction. The advertising and marketing and negotiations had been led by Herb Warmbrodt (principal, Kansas Metropolis), Mike Dubé (senior vice chairman, Denver), Jeffrey Duni (senior vice chairman and dealer on file for Colorado), and Adam Lallani (vice chairman, Houston). Based mostly in Aspen, Colorado, Terrapin Investments invests in actual property properties together with accommodations and resorts, in addition to quite a lot of different industrial actual property holdings.
Dubé said, “The Glenwood Springs lodging market continues to thrive as a leisure drive-to vacation spot market exterior of the most important ski resort areas with continued file tourism expenditures and resort efficiency.”
These two Inns, situated on the base of the gondola for the Glenwood Caverns Journey Park, are inside strolling distance of the world-famous Glenwood Sizzling Springs.
