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8000 Tartak Street, Carolina, San Juan, Puerto Rico, 00979
Investment Highlights
Cash-flowing Asset
Strategic Location Within The Isla Verde Tourism District
Unencumbered of Management
Recently Completed Capital Investments
U.S. Jurisdiction
Tax Haven
Christian Charre
Senior Managing Director
786.646.2585 Christian.Charre@berkadia.com
H&H Investment Sales:
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Market Overview
Paul Weimer
Senior Managing Director
786.646.2584 Paul.Weimer@berkadia.com
Jennifer Jin
Vice President - Production
305.266.5921 Jennifer.Jin@berkadia.com
Luca Albisetti
Real Estate Analyst
786.310.3693 Luca.Albisetti@berkadia.com
Executive Summary
Berkadia is pleased to present the fee simple interest in the Embassy Suites San Juan Hotel & Casino (“Property”, “Resort”, “Hotel”, “EmbassySuites”). Located within the Isla Verde neighborhood of the San Juan metro, the Resort is less than a five-minute drive from the Caribbean’sbusiest airport, the Luis Muñoz Marín International Airport (SJU), and a five-minute walk to Isla Verde beach. Puerto Rico has remained aperennially popular destination, not only for its attractions but also as a result of excellent airlift and U.S. Jurisdiction, drawing a steady mixof leisure, corporate, government, and group business. One of the area’s most established lodging submarkets and renowned destinations inPuerto Rico, Isla Verde is known for its award-winning, pristine beaches and prime location between the airport and downtown San Juan.
The Embassy Suites features 313 well-appointed guestrooms, four food and beverage outlets, more than 13,000 sq. ft. of meeting space, anon-site casino, and a reserved beach area for guests, only two blocks away. Current ownership has invested significant capital to upgrade andimprove the property, focused on property infrastructure, food and beverage, and the casino. This offering represents an outstanding opportunityfor an investor to acquire a profitable, premium branded hotel located in one of the Caribbean’s top destinations.
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property details
8000 Tartak Street, Carolina, San Juan,Puerto Rico 00979
Fee Simple
INTEREST
1997 / 2023-2024 (on-going)
BUILT / RENOVATED
313
HOTEL ROOMS
226,044
TOTAL RESORT SF
Hotel: Highgate (available unencumbered)
Casino: Interlink (available unencumbered)
MANAGEMENT
Embassy Suites
BRAND
Coqui Pool Bar, El Patio Latin Bar Café, E’terie (Grab n’ Go), Cueva del Mar (Leased)
FOOD & BEVERAGE
13,368 SF
MEETING SPACE
179 slots & 6 table games
CASINO
Reserved beach area, Outdoor pool, Fitness center
OUTDOOR AMENETIES
As of YTD October 2023, the Puerto Rico lodging market recorded a RevPAR of $209, marking a 12% increase compared to 2022 and a significant 53% growth compared to 2019.
Strong Lodging Performance:
The Luis Munoz Marin Airport (SJU) serviced record passenger volume of an estimated 12+ million in 2023. This was a 16.5% increase over the previous record set in 2022.
Increased Tourism:
In 2023, the Port of San Juan saw a significant increase in cruise passenger visitation, welcoming 1.3 million tourists, an 82% increase from 2022.
Popular Port of Call:
PHOTO GALLERY
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8000 Tartak Street, Carolina, San Juan,Puerto Rico 00979
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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