Overview

William Meinhold of Swoboda Hospitality Specialists was retained as Listing Agent to negotiate a sale of the Best Western Dobson Ranch 216 Unit Hotel in Mesa, Arizona.

Challenges

The property was located on a ten acre commercial parcel that was a leasehold interest rather than fee simple. The land was owned by a partner in the hotel limited partnership and was very difficult to negotiate with, which made it a real challenge to secure an agreement to be able to put the land and hotel together in a package which would give the new Buyer a fee simple interest.

Goals

Complete a close of escrow that would provide both the land and hotel in a fee simple package.

Results

Was able to negotiate an escrow closing that included two separate transactions, with the land being priced at $4,600,000.00 and the Hotel improvements at $10,000.00. Escrow closed simultaneously enabling the purchaser to finalize the transaction in a fee simple package.