Simmons Suites, 3001 N.E. 11th St. in Bentonville.
An investment group led by a privately held hospitality company from Mountain Home is the new owner of a 113-unit hotel in Bentonville.
Magness Hospitality, through its AM&M Hotel LLC, paid $4.65 million for the Simmons Suites development at 3001 N.E. 11th St. The four-story hotel sits near the exit at the junction of Interstate 49 and Highway 72.
Simmons Bank of Pine Bluff was the seller.
Centennial Bank in Mountain View financed the deal with a mortgage of $3.95 million.
First National Title Co. in Bentonville was the title agent.
Murad Mandini and Jeffrey Magness are members of AM&M.
Simmons Suites opened in March 2008 and collected $1.29 million in room revenue in 2014.
A fund formed by a Los Angeles-based real estate investment and advisory firm has... [ MORE ]