Bank-owned Las Vegas distressed hotel note for sale

I'm looking for a cash buyer or buyer rep for a bank-owned distressed Las Vegas, NV hotel note.

This note represents a very attractive extended-stay hotel property that is run more like an apartment complex than a hotel.  Fee simple ownership would not be difficult to attain.

Perhaps could be bought for $27.3M which is 70% of the $39M UBP. 
This equates to a 7-cap offering using the 2010 NOI.

2010 NOI = $1,981,442

July 2011 NOI = $200,718 (excluding BK legal fees)...annualized would make this a 9-cap offering.

July 2010 OCC = 47.87%

July 2011 OCC = 67.2%

2010 OCC = 46.85%

No improvements are needed and the property is currently very attractive and well-maintained.

3% fee required...to be paid by buyer; 1 pt each for buyer and seller reps; 1 pt for IM.

NCND, LOI & POF required to get full DD package from the bank.

Interested cash buyers or cash buyer reps please email me at dale@azbigsky.com .

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Dale,

 

I have a very real buyer with cash that is looking for an investment just like this one.  What do you need from me to get your complete summary emailed to me to show to her?  My email is scott6x6@aol.com.

 

Scott

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