homewood-suites-saratoga-springs

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. © 2025 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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3368 S Broadway | Saratoga Springs, NY 12866

Matt Raptosh

Managing Director 215.328.1318 Matt.Raptosh@berkadia.com

John Kluh

Associate Director 410.562.7139 John.Kluh@berkadia.com MD License #681312

Brian Antognini NY License #10991223549 

Denny Meikleham

Managing Director 617.648.4186 Denny.Meikleham@berkadia.com MA License #9519748

Connor Wimsatt

Associate Director 240.204.5138 Connor.Wimsatt@berkadia.com

Ethan Wagner

Associate Director 814.574.7376 Ethan.Wagner@berkadia.com

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3368 S Broadway | Saratoga Springs, NY 12866

MEETING SPACE

480 SF

TENURE

Fee Simple

Management

Unencumbered

Labor

Non-union

Additional Amenities

Fitness center, business center, indoor pool, sundry/convenience shop, sport court, complimentary Wi-Fi, guest laundry facilities, local area shuttle, outdoor patio and grills

FOOD & BEVERAGE

Complimentary Breakfast

Year Built

2017

Guestrooms

113

Parcel ID:

178.-2-16

Site Area

+/- 5.17 Acres

BUILDING

4 Stories

Investment Highlights

Highly desirable location in one of New York’s most popular destinations

Institutional-quality, purpose-built asset in exceptional physical condition

Key-count expansion value-add opportunity

Limited competitive new supply

Clean offering with proven historical performance and operational upside

Hilton’s premier extended-stay brand bolstered by its industry-leading reservation & rewards program

Berkadia Hotels and Hospitality has been exclusively retained in connection with the solicitation of offers to acquire the fee simple interest in the 113-room Homewood Suites Saratoga Springs (the ‘Hotel’ or ‘Asset’). The premium-branded, extended-stay asset boasts an exceptional location directly off Broadway within one of New York State’s most popular leisure destinations, Saratoga Springs. The Homewood Suites offers unparalleled access to the market’s top attractions, including the Saratoga Racetrack & Casino, Skidmore College, Saratoga Performance Arts Centers (SPAC), and the directly adjacent and recently opened Tree House Brewing taproom. Furthermore, the Hotel capitalizes on ample corporate demand due to its location within the Capital Region’s Tech Valley which has become a target market for major electronics & technology, advanced manufacturing, and biotech companies like GlobalFoundries, Momentive Performance Materials, and Regeneron Pharmaceuticals, to name a few. Purpose-built in 2017, the Homewood Suites is the newest hotel in the market and benefits from its premium, Hilton Honors-affiliated brand. This competitive advantage, coupled with its prime location, has allowed the Hotel to garner status as the market leader in occupancy. However, there remains a significant value-add opportunity for a new owner/manager to deploy a revenue management strategy to improve ADR penetration which has trailed the market in recent periods despite the Asset's superior physical plant and location. Furthermore, current ownership has received site plan approvals from the city for the addition of 17 guestrooms on the southeast corner of the site, offering a high-ROI prospect that would substantially reduce a new owner's per-room basis upon completion. The Homewood Suites Saratoga Springs represents a rare opportunity to acquire a purpose-built and highly performing asset unencumbered by management with strong in-place cash flows and attainable upside in one of New York’s most popular leisure destinations.

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Executive Summary

SARATOGA SPRINGS

3368 S Broadway | Saratoga Springs, NY 12866

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KESSELRING NAVAL NUCLEAR LABORATORY (7.8 MI.)

3,900-acre site 1,500 employees +$855M annual economic impact

SARATOGA HOSPITAL (2.2 MI.)

171 beds 1,850 employees Ranked No. 8 among “Best Hospitals in New York” - Newsweek

SKIDMORE COLLEGE (2.7 MI.)

890-acre campus 2,560 total enrollment 1,120 faculty & staff

REGENERON PHARMACEUTICALS SARATOGA SPRINGS EXPANSION (2.2 MI.)

1M SF manufacturing plant acquired from Quad Graphics $42.5M investment 62-acre site 4,500 current employees in the Albany area

GLOBAL FOUNDRIES HQ (5.7 MI.)

+3M SF facility +3,200 employees Fab 8 Semiconductor Manufacturing Site Expansion $11.6B investment over the next 10 years 358,000 SF manufacturing facility 1,500 new jobs created by 2032 Estimated to generate: - $1.7B in real economic output - $1.1B in real GDP Construction to begin in late-2025

TREE HOUSE BREWING (0.1 MI.)

20,000 SF brewery, taproom, and restaurant 50+ drink options Opened in March 2025

SARATOGA RACETRACK & CASINO (0.8 MI.)

+1M annual race season attendees +$800M All-sources wagering Top 10 Horse racetrack in the world +1,700 slots and electronic games

Primary Demand Drivers:

SARATOGA PERFORMING ARTS CENTER (1.2 MI.)

3,200 SF open-air pavilion 25,000-seat capacity +150 events per year +475,000 annual visitors Host to: Saratoga Jazz Festival New York City Ballet Philadelphia Orchestra

SARATOGA SPA STATE PARK (0.7 MI)

3.6M annual visitors 2,379 acres 12 miles of trails Saratoga Spa State Park Golf Course

THE LOCATION

NEW YORK’S CAPITAL REGION

METRO GDP

+$80 Billion

HIGHER EDUCATION

+25 Colleges & Universities

POPULATION

+1.1 Million

New York's Capital Region, encompassing Albany, Schenectady, Troy, and surrounding areas, is a vibrant and diverse economic hub in upstate New York. The region has a population of approximately 1.1 million people, with a workforce of over 500,000, contributing to a robust and dynamic economy. Key economic sectors include government, education, healthcare, technology, and manufacturing. The presence of state government offices in Albany, along with major educational institutions like the University at Albany and Rensselaer Polytechnic Institute (RPI), play a significant role in driving the region's economy. Additionally, the area is part of New York's Tech Valley, which has seen growth in the semiconductor & nanotechnology and biotech industries, with companies like GlobalFoundries, Regeneron Pharmaceuticals, and the Albany Nanotech Complex leading the way. Demographically, the Capital Region is characterized by a mix of urban, suburban, and rural communities, offering a diverse range of living environments. The area has a relatively high median household income compared to other parts of upstate New York, and its educational attainment levels are bolstered by the presence of numerous colleges and universities. The region's strategic location, with access to major transportation networks such as the New York State Thruway, Amtrak rail services, and Albany International Airport, supports its role as a key logistics and commerce center. Major travel and demand drivers in the Capital Region include its rich history, cultural attractions, and natural beauty. The area is home to historic sites like the New York State Capitol and the Empire State Plaza, as well as cultural institutions such as the Albany Institute of History & Art and Proctors Theatre in Schenectady. Outdoor enthusiasts can explore the nearby Adirondack and Catskill Mountains, as well as the Hudson and Mohawk Rivers. The Saratoga Race Course and Saratoga Performing Arts Center (SPAC) are also significant attractions, drawing visitors from across the country. These factors, combined with ongoing economic development and revitalization efforts, make the Capital Region a dynamic and appealing place to live, work, and visit.

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KESSELRING NAVAL NUCLEAR LABORATORY (7.8 MI.)

3,900-acre site 1,500 employees +$855M annual economic impact

SARATOGA HOSPITAL (2.2 MI.)

171 beds 1,850 employees Ranked No. 8 among “Best Hospitals in New York” - Newsweek

SKIDMORE COLLEGE (2.7 MI.)

890-acre campus 2,560 total enrollment 1,120 faculty & staff

REGENERON PHARMACEUTICALS SARATOGA SPRINGS EXPANSION (2.2 MI.)

1M SF manufacturing plant acquired from Quad Graphics $42.5M investment 62-acre site 4,500 current employees in the Albany area

GLOBAL FOUNDRIES HQ (5.7 MI.)

SARATOGA PERFORMING ARTS CENTER (1.2 MI.)

3,200 SF open-air pavilion 25,000-seat capacity +150 events per year +475,000 annual visitors Host to: Saratoga Jazz Festival New York City Ballet Philadelphia Orchestra

SARATOGA SPA STATE PARK (0.7 MI)

3.6M annual visitors 2,379 acres 12 miles of trails Saratoga Spa State Park Golf Course

TREE HOUSE BREWING (0.1 MI.)

20,000 SF brewery, taproom, and restaurant 50+ drink options Opened in March 2025

SARATOGA RACETRACK & CASINO (0.8 MI.)

+1M annual race season attendees +$800M All-sources wagering Top 10 Horse racetrack in the world +1,700 slots and electronic games

Primary Demand Drivers:

THE LOCATION