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SPERRY VAN NESS COMPLETES $5.8 MILLION HOTEL SALE

DES MOINES, IOWA — Fort Worth, Texas-based Sperry Van Ness | Visions Commercial (SVN) has completed the sale of a 144-room Best Western Hotel, located at 1810 Army Post Rd. in Des Moines, for $5.8 million. The property also includes a conference center and a Bennigan’s Restaurant, and is situated on 4.79 acres. Scott Henderson of SVN represented the buyer, Fort Worth-based REDJ Ltd., in the 1031 exchange. Henderson also represented REDJ in the other component of the exchange, a 116-unit multifamily property located in Fort Worth. The seller in the Des Moines transaction was undisclosed.

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