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DAN HAWKINS

Managing Director 240.204.5139dan.hawkins@Berkadia.comDC License #SP200201313

Steven Vazquez

Senior Director 646.432.7494 steven.vazquez@berkadia.com NY License # 10401206576

michael forester

Senior Real Estate Analyst 646.432.7455 michael.forester@berkadia.com

JUSTIN STORER

Real Estate Analyst 774.275.7833 justin.storer@berkadia.com DC License #SP40003037

JAKE PIETRAS

Associate Director 410.940.9497 jake.pietras@Berkadia.comMD License #5003787

H&H Investment Sales:

Matt Raptosh

Managing Director 814.470.9983 matt.raptosh@berkadia.com

Ethan Wagner

Senior Real Estate Analyst 814.574.7376 ethan.wagner@berkadia.com

Connor Wimsatt

Associate Director 240.204.5138 connor.wimsatt@berkadia.com

H&H Financing:

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.

2260 Downs Road, Erie, PA 16509

THE LOCATION

Erie Art Museum

+8,000 local and regional art pieces Offers gallery nights, special events, classes & workshops, summer camp virtual tours, and teaching opportunities The Holstein Gallery (250-person capacity), Hagen Gallery (150-person capacity), and Patio (150-person capacity) are available for special events

Erie Zoo

$21.2 million in economic impact annually Attracts 455,000 annual visitors More than 400 animals +100 species

THE OFFERING

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Berkadia Hotels & Hospitality has been exclusively retained to offer for sale the fee simple interest in the 150-room Holiday Inn Erie (the “Hotel,” “Asset,” “Property,” or “Holiday Inn”). Having been purpose-built in September 2021 with premium construction methods, the Holiday Inn is the newest hotel in Erie, PA and within a ten-mile radius of the subject, and will require minimal capital over the next several years. Moreover, strategically positioned in the market as a compact full-service hotel with 1,200 square feet of meeting space and an efficient food & beverage footprint, the Hotel has demonstrated the innate ability to consistently realize significant cash-flow and highly efficient operating margins more comparable to select-service lodging assets.The offering presents a unique opportunity to acquire a newly built hotel, featuring both outstanding in-place cash-flow and attainable top-line upside potential. The Property is located in a rapidly growing and highly accessible submarket, which benefits from an ideal supply story, is driven by considerable leisure demand, and is further diversified by a robust mix of corporate, higher education, medical, convention, logistics, and athletic demand channels. Offered fee simple, non-union, and unencumbered of management, the Hotel will also provide a new owner with significant operational flexibility. Furthermore, with only one other IHG-affiliated hotel (Candlewood Suites) located in Erie, PA and no IHG-branded lodging assets in planning or under construction, the Holiday Inn is poised to capitalize on IHG’s extensive reservations and rewards system of more than 100 million members for the foreseeable future.

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2260 Downs Road, Erie, PA 16509

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THE HOTEL

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Investment Highlights

Newly-built, compact full-service hotel with outstanding in-place cash-flow, highly efficient operating margins, and attainable top-line upside Newest hotel in the submarket paired with an ideal supply story Clean offering with fee simple ownership, non-union labor, and unencumbered of management/debt Diversified lodging market driven by significant leisure demand Highly accessible location along the I-90/U.S. Highway 19 interchange Primed to benefit from Erie’s sustained economic growth trajectory and development pipeline

#4 of 16 hotels in Cranberry Township

Holiday INN Erie

2260 Downs Road, Erie, PA 16509

PHOTO GALLERY

Waldameer Water World

Historic amusement and waterpark with roller coasters, water rides, arcade, gift shops, picnic pavilions Fifth oldest continuously operating amusement park in the United States +100 rides, slides, and attractions

Presque Isle State Park

3,200-acre peninsula with seven miles of large, sandy, life-guarded beaches Over 4 million annual visitors #3 Best Lake Beach in North America Fodor’s Travel Guide 2023 Activities include swimming, boating, fishing, hiking, bicycling, and in-line skating

Presque Isle Downs & Casino

Year-round gambling facility with casino and horse racing track 59,000 square foot gaming floor 1,500 slots, +30 table games, 7 poker tables There are no hotel rooms at the facility

2023 Erie Tourism

$1.2 billion in visitor spending 15,000 tourism-related jobs Accounting for nearly 12% of jobs locally 2023 Hotel room demand: 887,373 Up 3.3% from 2022

Lake Erie Arboretum

+1,000 tree across +200 species The arboretum and botanical garden span 33 acres within Frontier Park Contains shaded pathways, virtual tree gazebo, a labyrinth, river, and a winter garden

Bicentennial Tower

187-foot-tall observation tower Panoramic views of Presque Isle Bay and the city of Erie Scenic elevator ride to the top observation deck

Splash Lagoon Waterpark

Indoor water park resort with an 84-degree tropical atmosphere Attracts over 325,000 visitors annually Ranked one of the Top 10 water park resorts in the country by USA Today Attractions include a Lazy River, FlowRider indoor Surf Machine, 6,500 square foot arcade, and 200,000-gallon wave pool

Millcreek Mall Complex

2.2 million square foot complex 2nd largest shopping complex in Pennsylvania 12.1 million visitors over the year ending November 2023 +195 stores Major retailers include JCPenney, Macy’s, H&M, Round One Entertainment arcade, TJ Maxx, HomeGoods

Summit Towne Center

Outdoor shopping mall with +15 stores Anchored by Sam’s Club, Goodwill, JOANN Fabric and Crafts

Lake Erie Wine Country

Largest grape growing region in the United States east of the Rocky Mountains 30,000 acres of sprawling vineyards across more than 20 distinct estate and commercial wineries $130 million in economic activity generated by wine and grape growing

Station Dinner Theatre

Operates year-round Home of the original “A Canterbury Feast” Longest running medieval dinner theatre in the country

Erie Sports Center

60-acre multi-sports complex that offers youth and adult programs Ten fields for soccer, lacrosse, and football 4 diamonds for baseball/softball Indoor dome for year-round training and competition 61,000 square feet Largest indoor multi-sport turf facility in the region AHN Pavilion 14,000 square foot sports medical facility Offers physical therapy and sports rehab, concussion management, strength training, conditioning, speed, agility, recovery services, and onsite x-ray 30,000 square foot Indoor Basketball Arena 36-hole mini-golf course 150-seat clubhouse

Ambassador Banquet & Conference Center

21,000 square feet of flexible meeting space, including: Crystal Ballroom 6,500 square feet Accommodates 500 guests Hemingway Ballroom 3,000 square feet Up to 350 guests Garden Atrium Approx. 3,000 square feet Max capacity of 300

Bayfront Convention Center

Largest banquet venue in Northwestern Pennsylvania 17 meeting rooms and outdoor spaces providing audiovisual capabilities, wireless internet/data connectivity, public address system, and assisted hearing devices 120,000 square feet of total event space Great Hall 28,000 square feet Can seat up to 4,500 guests Grand Ballroom 13,500 square feet and can host up to 1,000 guests

Penn State Behrend

4,700 students enrolled Ranked among the top 40 Undergraduate Engineering Programs in the U.S. – U.S. News 2024

Mercyhurst University

75-acre campus in Erie, PA 2,668 students enrolled Offers 56 undergraduate degrees, 12 master’s degrees, and 8 graduate certificates #37 Best Value School by U.S. News 2024

Lake Erie College of Osteopathic Medicine (LECOM)

LECOM’s Erie campus is the only medical school in the country with five student-centered learning pathways for the first two years of osteopathic medical education Nation’s largest medical college 4,330 students enrolled (PA, FL, and NY campuses combined)

AHN Saint Vincent

Allegheny Health Network facility 348-bed hospital Supports 1,510 employees

J. Robert Baldwin Business Park

442,900 square feet of space 12 buildings Notable tenants – Composiflex, Flexcut Tool Co. Inc., Tesco Tools, Micro Plating Inc., Quality Mold, Plastikos Inc., Heatron, 4Front Solutions, and Enjet Aero

UPMC Hamot

445-bed tertiary care facility Only Level II Trauma Center in the Northwest Pennsylvania region 4,130 employees 2nd-largest employer in Erie County $848 million total economic impact of hospital operations UPMC has invested over $448 million in UPMC Hamot and added 1,400 jobs in Erie County over the past decade

Wabtec US Rail Inc.

Formerly GE Transportation 4 million square feet, 350-acre locomotive factory Erie Locomotive Manufacturing Complex 2,240 jobs

ERIE INTERNATIONAL AIRPORT

Five miles southwest of downtown Erie Just over 100,000 passengers served in 2023 Passenger airlines – American Airlines Amidst a $14 million project to enhance the main runway Non-stop flights to Charlotte, NC and Orlando, FL

LORD Corporation

Manufacturer of advanced adhesives and coatings, as well as sensing and motion control technologies Supports aerospace, automotive, oil and gas, and industrial industries 528,400 square feet occupied in Erie 700 jobs supported

Port of Erie

The Port of Erie and O-N Minerals Erie offer cargo shippers on the Great Lakes/Seaway System Port of Erie is a hub of both the US and Canada, as there are 85 million people within a 500-mile radius Home to the only two 1,000 foot dry docks on the Great Lakes and boasts one of the largest cargo lift capacities in the region

MEETING SPACE

1,200 SF (2 meeting rooms)

PARKING

145 Spaces (Complimentary Surface Parking)

Additional Amenities

Business center, fitness center, indoor pool, outdoor patio, high-speed wifi

FOOD & BEVERAGE

Toast to Toast Restaurant & Bar

Vintage

September 2021

Guestrooms

150

LAND AREA

2.80 AC

BUILDING AREA

81,215 SF

Stories

LABOR

Non-Union

Management

Unencumbered

TENURE

Fee Simple

The Hotel

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