LAS VEGAS—HREC Investment Advisors represented an institutional seller on the portfolio sale of the 155-room Courtyard by Marriott Las Vegas Henderson-Green Valley and the 126-suite Residence Inn Las Vegas Henderson-Green Valley, Nevada. Pacifica Companies, a San Diego-based investment firm, acquired the two properties.

Michael Blahosky, senior vice president, in HREC Investment Advisors' Los Angeles office, Mike Armstrong, principal in the San Diego office and Mike Cahill, CEO in the Denver headquarters, exclusively represented the seller, during the transaction.

These premium-branded select service hotels are located six miles from McCarran International Airport and the Las Vegas Strip and are surrounded by abundant shopping, restaurants, and business parks. Both hotels will receive substantial top to bottom upgrades by Pacifica.

"Las Vegas has seen tremendous growth post-recession. Once the renovations are completed, these two hotels will be well positioned to achieve significant upside," commented Armstrong.

"This was a very complicated transaction and the seller and buyer showed great focus to get this deal completed," said Blahosky.

Cahill added, "From its exclusive, proprietary database of national hotel investors, HREC was able to garner significant investor interest in these select service hotels."

HREC is a leading lodging and gaming real estate advisory firm specializing in property sales, mortgage brokerage, equity/JV structuring, consulting (market studies and appraisals), and litigation support.