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Berkadia Real Estate Advisors LLC is pleased to offer, on an exclusive basis, the opportunity to acquire the fee-simple interest in the 122-key Courtyard Petaluma Sonoma County (“Hotel” or “Property”). Conveniently located within Sonoma County, the 122-room premium-branded select-service hotel is just a short 45-minute drive from San Francisco and within close proximity to Downtown Petaluma and hundreds of wineries in Sonoma and Napa Valley.
Built in 2021 for $41.5 million ($340,000 per key), the newly-built, premium-branded select-service hotel was the first construction project within the 35-acre riverfront mixed-use development adjacent to the Petaluma River. The purpose-bult Hotel was designed with a combination of modular construction and on-site construction. The four-story Hotel features the Courtyard Bistro, an outdoor pool and whirlpool, meeting room, fitness facility, and business center.
Strategically located off the famed U.S. Route 101, the Hotel is less than a mile from Historic Downtown Petaluma which features a number of eclectic boutique shops, various locally grown tasting rooms, vibrant entertainment, a bustling theatre district and a burgeoning farm-to-table dining scene. The Hotel draws from a diverse set of demand drivers, including healthcare, technology, gaming, energy, agriculture, and education.. The Property also benefits from the region's famed wine appeal with easy access to Downtown Sonoma (14 miles away) and Downtown Napa (25 miles away). Furthermore, the Hotel benefits from its connectivity to regional transportation hubs including the recently-expanded Charles M. Schulz — Sonoma County Airport (24.7 miles away; 650,000 passengers annually), San Francisco International Airport (51 miles away; 50 million passengers annually) and San Francisco Bay Oakland International Airport (52 miles away; 11.2 million passengers annually).
This offering provides investors the opportunity to acquire a recently-delivered, premium-branded select-service hotel proximate to one of the nation’s most affluent population centers with significant barriers-to-entry. The Hotel is surrounded by a mix of leisure, corporate and healthcare demand drivers immediately in Sonoma County with convenient access to country’s most famous wine region. The Hotel is offered unencumbered of management.
SUMMARY
OFFERING
2023 Forecast (9+3) Quick Facts:
RevPAR
$122.54
Revenues:
$5.4MM
NOI
$1.5MM | 28.6% Margin
Excellent visibility and accessibility
Prime location with diverse demand generators
Built in 2021 and offered at significant discount to ownership's basis
Best-in-class brand affiliation
Unencumbered of management
Investment Highlights
GALLERY
Berkadia®, a joint venture of Berkshire Hathaway and Jefferies Financial Group, is an industry leading commercial real estate company providing comprehensive capital solutions and investment sales advisory and research services for multifamily and commercial properties. Berkadia® is amongst the largest, highest rated and most respected primary, master and special servicers in the industry. This advertisement is not intended to solicit commercial mortgage company business in Nevada.
© 2024 Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Berkadia® and Berkadia Commercial Mortgage® are trademarks of Berkadia Commercial Mortgage LLC. Investment sales and real estate brokerage businesses are conducted exclusively by Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Commercial mortgage loan origination and servicing businesses are conducted exclusively by Berkadia Commercial Mortgage LLC and Berkadia Commercial Mortgage Inc. Tax credit syndication business is conducted exclusively by Berkadia Affordable Tax Credit Solutions. For state licensing details for the above entities, visit www.berkadia.com/licensing.
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Scott Hall
Managing Director
858.257.4724 scott.hall@berkadia.com
Financing
Courtney Farrington
Senior Financial Analyst
619.497.3083 courtney.farrington@berkadia.com
Aaron Lapping
Senior Director
702.494.8127 aaron.lapping@berkadia.com
Scott Hall
Managing Director
858.257.4724 scott.hall@berkadia.com
Investment Sales
CONTACT
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LOCATION
700 CAULFIELD LANE PETALUMA, CA 94952
OVERVIEW
PROPERTY
PETALUMA SONOMA COUNTY
ADDRESS
JUNE 2021
OPENED
122
GUESTROOMS
4
STORIES
3.3 ACRES
SITE AREA
995 SF
MEETING SPACE
COURTYARD BISTRO
FOOD & BEVERAGE
180 surface parking spaces
PARKING
FEE-SIMPLE/NON-UNION
TENURE/LABOR
ENCUMBERED / UNENCUMBERED
BRAND MANAGEMENT
OUTDOOR POOL & WHIRL POOL
GUEST LAUNDRY ROOM
FITNESS ROOM
BUSINESS CENTER
Petaluma Sonoma County