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.
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Tampa
4890 West Kennedy Boulevard
Tampa, FL 33609
Orlando
300 South Orange Avenue
Orlando, FL 32801
Offices
Hotels & Hospitality Investment Sales
Hotels & Hospitality Financing:
Broker of Records
Matt Raptosh Managing Director 215.328.1318 Matt.Raptosh@berkadia.com Connor Wimsatt Associate Director 240.204.5138 Connor.Wimsatt@berkadia.com Ethan Wagner Senior Real Estate Analyst 814.574.7376 Ethan.Wagner@berkadia.com
Ricardo Vidrio Ohio BoR License # REC.2013002196
Cole Whitaker FL BoR
License #CQ1043330
Dan Hawkins Managing Director 240.204.5139 dan.hawkins@berkadia.com DC License #SP200201313
Natalie Castillo Managing Director 786.646.2592 natalie.castillo@berkadia.com FL License #BK3235948
Jake Pietras Associate Director 410.940.9497 jake.pietras@berkadia.com MD License #5003787 Kyle Sahlsten Associate Director 813.465.1212 kyle.sahlsten@berkadia.com FL License #SL3523013
Justin Storer Real Estate Analyst 301.202.3542 justin.storer@berkadia.com DC License #SP40003037 Dylan Jones Real Estate Analyst 813.675.0464 dylan.jones@berkadia.com FL License #SL3552356
Luca Albisetti Real Estate Analyst 786.310.3693 luca.albisetti@berkadia.com
CONTACT Info
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Candlewood Suites Cleveland South – Independence (Dual-Brand)
91
KEYS
2020
CONVERTED
Holiday Inn Cleveland South – Independence (Dual-Brand)
1974
YEAR BUILT
2023
RENOVATED
SPRINGHILL SUITES FORT MYERS ESTERO
100
GUESTROOMS
2019
YEAR BUILT
HOLIDAY INN EXPRESS NORTH PALM BEACH - OCEANVIEW
108
GUESTROOMS
1961
YEAR BUILT
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Property Details
COMPELLING IMMEDIATE AND LONG-TERM VALUE ADD Opportunities
RECENTLY DELIVERED OR RENOVATED HOTELS OFFERED AT A SIGNIFICANT DISCOUNT TO REPLACEMENT COST
FEE SIMPLE/NON-UNION PORTFOLIO WITH DIVERSIFIED PRODUCT TYPE AND BRAND AFFILIATION
CONSIDERABLE IN-PLACE CASH-FLOW WITH DEMONSTRATED PERFORMANCE HISTORY
INVESTMENT HIGHLIGHTS
Newport Harbor Hotel and Marina
1
Rhode Island
Fairfield Inn & Suites Augusta Fort Eisenhower Area
Georgia
7
Courtyard Harrisburg West/Mechanicsburg
Pennsylvania
9
Durham Marriott City Center
North Carolina
8
Candlewood Suites Cleveland South – Independence (Dual-Brand)
OHIO
1
Holiday Inn Express North Palm Beach - Oceanview
Florida
3
4
ASSET LOCATIONS
1
2
3
PROPERTY NAME
Candlewood Suites Cleveland South - Independence (Dual-Brand) Holiday Inn Cleveland South - Independence (Dual-Brand) Holiday Inn Express North Palm Beach - Oceanview
SpringHill Suites Fort Myers Estero
LOCATION
Independence, OH Independence, OH Juno Beach, FL
Estero, FL
KEYS
91 254 108
100
YEAR BUILT
2020 1974 1961
2019
PORTFOLIO overview
Berkadia Hotels and Hospitality has been exclusively retained to offer for sale the fee simple interest in a four-property hotel portfolio, totaling 553 rooms – the Premium-Branded Hotel Portfolio | FL and OH Four-Pack (the “Portfolio,” “Hotels,” or “Assets”). The Portfolio consists of two premium select-service hotels, one full-service, and one extended-stay hotel, carrying leading Marriott and IHG brand affiliations and strategically located in key Florida and Ohio markets.
The offering presents a unique opportunity to acquire a geographically diverse portfolio with strong in-place cash flow at a significant discount to replacement cost, providing immediate and long-term value to a new owner. Moreover, the Portfolio presents a variety of value-add opportunities via the completion of change of ownership PIPs, revenue management adjustments, and potential long-term repositioning/redevelopment strategies with the Holiday Inn Express North Palm Beach – Oceanview, enabling each Property to enhance their impressive in-place market capture. The Assets are offered fee simple, non-union, and unencumbered of management and debt.
While the four Hotels are being offered as a portfolio, offers submitted on a sub-portfolio or individual asset basis will be considered by the seller.
EXECUTIVE SUMMARY
Hotel Investment Opportunity Preferred & Common Equity Capital Raise for the Recapitalization of 14 Marriott and Hilton Branded Hotel Portfolio
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HOLIDAY INN EXPRESS NORTH PALM BEACH - OCEANVIEW
Candlewood Suites Cleveland South – Independence (Dual-Brand)
Holiday Inn Cleveland South – Independence (Dual-Brand)
SpringHill Suites Fort Myers Estero
Premium-Branded Hotel Portfolio | Florida and Ohio Four-PACK
Holiday Inn Cleveland South – Independence (Dual-Brand)
2
1
7
2
3
4
5
6
8
9
10
Holiday inn CLEVELAND south - INDEPENDENCE (dual-brand)
SPRINGHILL SUITES FORT MYERS ESTERO
CANDLEWOOD SUITES CLEVELAND SOUTH –INDEPENDENCE (dual-brand)
location
Summary
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GEOGRAPHICALLY DIVERSE PORTFOLIO
2024
Renovated
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Holiday Inn Cleveland South – Independence (Dual-Brand)
Candlewood Suites Cleveland South – Independence (Dual-Brand)
SPRINGHILL SUITES FORT MYERS ESTERO
GALLERY
91
GUESTROOMS
2020
CONVERTED
Photo gallery
254
KEYS
SpringHill Suites Fort Myers Estero Holiday Inn Express North Palm Beach - Oceanview Holiday Inn Cleveland South - Independence (Dual-Brand) Candlewood Suites Cleveland South - Independence (Dual-Brand)
Estero, FL Juno Beach, FL Independence, OH Independence, OH
100 108 254 91
2019 1961 1974 2016
2019 1961 1974 2016
254
guestrooms
HOLIDAY INN EXPRESS NORTH PALM BEACH - OCEANVIEW
Candlewood Suites Cleveland South – Independence (Dual-Brand)
Holiday Inn Cleveland South – Independence (Dual-Brand)
SpringHill Suites Fort Myers Estero
Premium-Branded Hotel Portfolio | Florida and Ohio Four-PACK
Hotel Investment Opportunity Preferred & Common Equity Capital Raise for the Recapitalization of 14 Marriott and Hilton Branded Hotel Portfolio
Visit Doc Center
4
SpringHill Suites Fort Myers Estero
4
1
7
2
3
5
6
8
9
10
Candlewood Suites Cleveland South – Independence (Dual-Brand)
Holiday Inn Cleveland South – Independence (Dual-Brand)
OHIO
1
2
Holiday Inn Express North Palm Beach - Oceanview
Florida
3
SpringHill Suites Fort Myers Estero
4
ASSET LOCATIONS
1
2
3
4
4
HOLIDAY INN EXPRESS NORTH PALM BEACH - OCEANVIEW
HOLIDAY INN EXPRESS NORTH PALM BEACH - OCEANVIEW
Candlewood Suites Cleveland South – Independence (Dual-Brand)
Holiday Inn Cleveland South – Independence (Dual-Brand)
SpringHill Suites Fort Myers Estero
4
4
1
2
3
4
Candlewood Suites Cleveland South – Independence (Dual-Brand)
Holiday Inn Cleveland South – Independence (Dual-Brand)
SPRINGHILL SUITES FORT MYERS ESTERO
NEXT
PREVIOUS
Justin Storer Real Estate Analyst 301.202.3542 justin.storer@berkadia.com DC License #SP40003037 Dylan Jones Real Estate Analyst 813.675.0464 dylan.jones@berkadia.com FL License #SL3552356 Luca Albisetti Real Estate Analyst 786.310.3693 luca.albisetti@berkadia.com
Noah Hickey Real Estate Analyst 786.646.2587 noah.hickey@berkadia.com