WHI announced today they closed the sale of the Hilton Garden Inn Kansas City, Kansas. WHI was the exclusive adviser on behalf of the seller, KCK Hotel Group, LLC. The seller was a public/private partnership between the Unified Government of Wyandotte County/Kansas City, Kansas and a local investment group. The property was sold to an affiliate of Fairwood Capital and HP Hotels has assumed the management of the hotel. The purchaser plans to renovate the guest room bathrooms.
"This property was received very well by the national, regional and local investor community and the results for the seller were excellent. The transaction accomplished separating the adjacent Reardon Center from the hotel's operations, which allowed the Unified Government to enter into a new lease with Kansas City's largest caterer, Brancato's Catering. Because of the complexity of the transaction, all parties involved were patient and worked together to bring this to a close", said Herb Warmbrodt, President of WHI. The 147-room, six-story, interior-corridor property is a modern prototype building located in central Kansas City, Kansas. Each room contains a 37-inch, LCD television, MP3-compatible alarm clock, coffee marker, refrigerator and microwave. Kansas City, Kansas is directly west of downtown Kansas City, MO and is part of the greater Kansas City, MO MSA. The property is only 20 minutes from the Kansas City International Airport and is proximate to restaurants, recreational facilities, casinos and a number of corporations including General Motors, VVF, Ltd. and Keebler Associated Wholesale Grocers. Additional leisure attractions such as Sprint Center, Legends Shopping Center, Kansas Speedway, Kansas City Royals and Kansas City Chiefs, the Power & Light District and the Kaufman Center for the Performing Arts are within a few minutes drive of the property.
