Real estate firm buys 3 Las Vegas extended-stay hotels
24 January 2013
A San Francisco Bay area real estate firm has acquired three extended-stay hotels in Las Vegas for a combined $34.4 million.
Hall Equities Group acquired the 359-room Hotel Suites of America for $11 million and the 96-room Cameron Suites for $4.9 million in November.
Those deals came after Hall spent $18.5 million in May for the 396-room Emerald Suites five miles south of the Strip.
Hotel Suites is on Paradise Road, across the street from Wynn Las Vegas’ golf course, and Cameron Suites is across from the Orleans, on Cameron Street off of Tropicana Avenue.
All three properties will eventually be branded Emerald Suites. They were being refurbished as of last month. Hotel units have a refrigerator, stove, oven and dishwasher.
Based in Walnut Creek, Calif., Hall Equities says it manages more than 8 million square feet of office, retail, multi-family, hospitality, industrial and self-storage facilities.
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