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Wingate by Wyndham of Fargo

Fargo, North Dakota

Leines Hotel Advisors, Inc. was given the assignment to sell the Wingate by Wyndham hotel of Fargo, North Dakota. The very strong economy of North Dakota, and the effect this has on demand, has caused Fargo to be a hot target for new hotel construction. This fact, along with the timing of management improvements that the owner was implementing to improve net operationg income, became the challenges we needed to overcome to achieve the true value of the hotel for the seller.

Our task was two-fold. First, we advised the seller on which offers were reasonable taking into consideration the improving NOI curve and the value that could soon be realized by allowing these improvements to boost the historical trend. Second, when timing was appropriate for the seller, we negotiated a sale with a buyer who was open and straighforward in his communication to us. This open communication allowed us to overcome any challenges that came up regarding lending, franchise transfer, Property Improvement Plan negotiations and the overall smooth transfer of the property during closing.