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71 Rathe Road | Colchester, VT 05446
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
Stephen J. Donahue
VT License #081.0004508
Ethan Wagner
Senior Real Estate Analyst
814.574.7376
Ethan.Wagner@berkadia.com
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
INVESTMENT SALES
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property details
71 Rathe Road | Colchester, VT 05446
MEETING SPACE
780 SF
TENURE
Fee Simple
Management
Unencumbered
Labor
Non-union
Amenities
Fitness center, business center, indoor pool, sundry/convenience shop, complimentary Wi-Fi, guest laundry facilities
FOOD & BEVERAGE
Complimentary Breakfast
Year Built / Renovated:
2010 / 2019
Guestrooms
108
BUILDING
4 Stories
Investment Highlights
Highly accessible location proximate to the area’s top demand generators
Purpose-built and recently renovated asset
In-place revenues and cash flows vastly exceeding 2019 benchmarks with additional upside
Limited competitive new supply both historically and forthcoming
Clean offering with proven historical performance and operational upside
Preeminent extended-stay brand bolstered by Marriott’s 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 108-room Residence Inn Burlington Colchester (the ‘Hotel’ or ‘Asset’). The premium-branded, extended-stay asset is the only Residence Inn in Vermont and benefits from its strategic and highly accessible location just off Interstate 89, less than three miles from downtown Burlington and proximate to the area’s countless leisure and corporate demand generators.
Burlington is widely regarded as Vermont’s cultural and economic hub as well as one of New England’s premier drive-to-leisure destinations with innumerable all-season outdoor activities and a contemporary culinary and craft beer scene. Furthermore, with the anchoring presence of the University of Vermont and UVM Medical Center, the region attracts a diverse base of corporate demand generators, such as GlobalFoundries, Dealer.com, Keurig Green Mountain, and Burton Snowboards, among many others.
Purpose-built in 2010 and having undergone an extensive $2 million (approximately $18,500 per room) renovation in 2019, the Residence Inn offers one of the newest rooms products in the market. This competitive advantage is showcased by the Hotel’s innate ability to capture market share, having consistently realized a RevPAR penetration greater than 120% since completion of the renovation. Furthermore, the Residence Inn has displayed an extremely efficient operating model with NOI margins greater than 40% and vastly exceeding 2019 benchmarks. However, upon completion of a change of ownership PIP focused on rooms and other guest-facing elements, the Residence Inn will be even further positioned to realize considerable gains in ADR penetration. The Residence Inn Burlington Colchester presents a new owner with the rare opportunity to acquire an exceptionally performing and highly profitable extended-stay asset, with the segment and industry-leading Residence Inn by Marriott brand, in one of New England’s most stable and highest barrier-to-entry submarkets.
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Executive Summary
BURLINGTON Colchester, VT
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FINANCING
Higher education and Medical
2.6 miles
$1.3 billion economic impact on the state of Vermont
5,040 employees
14,320 students enrolled in Fall 2023
460-acre campus
18 Division I athletic teams with more than 400 student athletes
2.4 miles
#1 hospital in Vermont by U.S. News & World Report 2024-2025
8,200 employees
620 hospital beds
Serves a population of more than 1 million people in Vermont northern New York
Parcel ID
03-207003-0000000
Site Area
+/- 3.83 Acres
1.5 miles
440-acre campus
More than 40 majors
23 varsity athletic teams part of theNortheast 10 Conference at the Division II level
3.0 miles
500 employees
1,800 students
Two-year college
CORPORATE / GOVERNMENT
Vermont Air National Guard and Vermont Army National Guard
3.2 miles
1,000 employees at Vermont Air National Guard
2,600 employees of Vermont Army National Guard
$107 million combined payroll
Around 25% of employees live outside of Vermont and utilize local hotels and businesses when they are in town
5,000 employees
Headquarters for the publicly traded coffee company that makes more than 100 diverse types of coffee
114,600 SF flex facility and 54,500 SF office
Keurig Green Mountain Coffee Roasters HQ
2.2 miles
1,800 employees
Produces microchips used by 80% of smartphones worldwide
Leading the charge for incorporating more tech companies into the Burlington region
GlobalFoundries
4.6 miles
500 employees
Global leader in online marketing solutions for the automotive industry
94,880 SF office
Dealer.com HQ
3.7 miles
400 employees
Headquarters for the prolific snowboard brand that is sold worldwide
Offers tours of the Burton Burlington Flagship store and Craig’s Prototype Facility
68,811 SF office and industrial facility
Burton Snowboards HQ
4.8 miles
TRANSPORTATION
1.2 million annual passengers served in 2022
$481 billion economic impact
Five airlines offer daily, non-stop service to 15 destinations
Patrick Leahy Burlington International Airport
3.3 miles
Served by Amtrak’s Ethan Allen Express that offers daily departures through Rutland, Albany, Saratoga Springs, and New York
Burlington Union Station
3.2 miles
Served by the Vermonter rail line, which makes daily departures from St. Albans through Essex Junction, Springfield, New York, and Washington, DC
Essex Junction Amtrak Station
3.8 miles
Tourism & Leisure
Open-air mall with local businesses, entertainment, and festivals that runs
through the center of downtown
130 retail options
80 dining options
30+ annual events
Church Street Marketplace
3.0 miles
Theatre dating back to the 1930s that is now Burlington’s world-class performing arts center
Hosts 200,000 guests annually on the Main Stage and Flynn Space
35,000 additional people attend the Flynn Student Matinee Series annually
Major venue for the Burlington Jazz Festival, a city-wide event that has been running for more than 40 years
The Flynn
3.1 miles
Attributed to over $3 billion in tourism expenditures
455 square mile lake spanning from Whitehall New York to the Richelieu River in Quebec
Site for the Champlain International Fishing Derby Thousands of anglers ascend on Lake Champlain on Father’s Day at LCI in Colchester for three days of fishing for one of the largest freshwater fishing tournaments in the country
Site for the Lake Champlain Pond Hockey Tournament - Hundreds of teams from the northeast U.S. and Canada compete at Malletts Bay
Lake Champlain
3.4 miles
850,000 annual visitors per year
Home to Mount Mansfield, the highest peak in Vermont
Features 116 ski trails, 14 lifts, and 485 skiable acres
Four-season resort
One of five ski resorts within a one-hour drive of Burlington
Stowe Mountain Resort
19.5 miles
The Hotel
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