2323 S Atlantic Ave, Daytona Beach, FL 32118
Premium ocean front hotel for sale at bankruptcy auction in Daytona Beach, Florida
Rushhh Daytona Beach, Tapestry Collection
by Hilton
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The Opportunity
As exclusive co-advisors, RobertDouglas and Berkadia Hotels & Hospitality are pleased to solicit offers to acquire Rushhh Daytona Beach, Tapestry Collection by Hilton.
The Hotel offers investors the exceptional opportunity to acquire a 110-key, premium lifestyle brand hotel with an irreplaceable waterfront location in the bustling Daytona Market
Investors are invited to participate in this 363 Bankruptcy sales process which will culminate in a Delaware Auction.
BID PROCESS AND CRITICAL DATES
Bid Submission Date:
Before July 28, 2023
Auction Date
August 4, 2023
Sale Hearing
Before August 8, 2023
Closing
September 29, 2023
Offered at a substantial discount to replacement cost
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Unencumbered of management
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Redevelopment opportunity with major upside potential
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Dynamic lodging market with diverse leisure and corporate demand
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Premium lifestyle brand with Hilton’s backing
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Irreplaceable waterfront location in the bustling Daytona market
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Proximity to Transformative Mixed-Use Developments
The Hotel will benefit from its ability to capitalize on substantial tailwinds of increased demand stemming from the completion of transformative mixed-use developments, including the adjacent $1.5 billion, 2.9 million square-foot Bulfinch Crossing project and the $1.2 billion, 1.5 million square-foot transit- oriented. The Hub on Causeway development at TD Garden/North Station which completed its third phase of development in May 2022.
Bulfinch Crossing
$1.5B DEVELOPMENT COST
1.4M SF OFFICE & LAB SPACE
30K SF RETAIL SPACE
700+ RESIDENTIAL UNITS
The Hub on Causeway
$1.5B DEVELOPMENT COST
1.5M SF TOTAL DEVELOPMENT 650K SF OFFICE SPACE
200K SF RETAIL SPACE
175K SF CREATIVE LOFT SPACE
440-UNIT LUXURY RESIDENTIAL TOWER
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Irreplaceable Boston Urban Core Location with Unparalleled Access and Walkability
While the Hotel will act as the gateway to one of Boston’s most attractive neighborhoods rich with culture and historic landmarks that attract both tourists and corporate travelers alike, its irreplaceable location proximate to downtown Boston, the financial district, TD Garden, Faneuil Hall/Quincy Market, and Boston Harbor will provide a diverse and expansive base of demand for a swift ramp to stabilization.
Within a 1-Mile Radius:
66.8M SF Office Space
4.9M SF Retail Space
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Rare Opportunity to Develop in One of the Highest Barrier-to-Entry Markets in the Country
A prospective partner will be afforded the extraordinarily rare opportunity to partner with a sponsor that has already received full approvals and permitting to develop in one of the highest barrier-to-entry markets in the country - Boston, MA.
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Independent Boutique Hotel Programmed for Optimized Efficiency
The Development is currently planned as a five-story, 134-room, Italian-inspired boutique Hotel with a rooftop restaurant/bar, and two leased restaurants on the ground floor. This programming with an optimal room-count and leased food & beverage operations will allow the Hotel to function as a select-service asset which will deliver exceptional operating margins and increased investor returns.
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INVESTMENT HIGHLIGHTS
1973/Partial Renovation
175 Feet
6
Unencumbered
Year Built /Renovated
Beach Front
Stories
Management
110
Keys
Unencumbered
Brand
Property Details
Location
The Hotel will offer free Wi-Fi, a business center, concierge services, pet-friendly rooms, on-site restaurant & bar, fitness center, pool, and guest-only beach access.
NEED MAP
THE Q
The Continental
North Parker
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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 loan brokerage business in Nevada.
© 2023 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 the Tax Credit Syndication group. For state licensing details for the above entities, visit: https://www.berkadia.com/licensing/.
Alexander Bauman
Vice President
212.220.2723
abauman@robert-douglas.com
Douglas Hercher
Principal & Managing Director
212.993.7424
dhercher@robert-douglas.com
Matthew Dower
Managing Director
312.586.7040
mdower@robert-douglas.com
Max Chipouras
Senior Analyst
212.993.7427
mchipouras@robert-douglas.com
Lucia Liu
Senior Analyst
310.402.2034
lliu@robert-douglas.com
Mabelle Perez
Director
Hotels & Hospitality
768.646.2587
Mabelle.perez@berkadia.com
KYLE STEVENSON
Managing Director
Hotels & Hospitality
kyle.stevenson@berkadia.com
JOHN TESTERMAN
Senior Director
Hotels & Hospitality
919.436.2793
john.testerman@berkadia.com
HARRY MANCERA
Senior Financial Analyst
Hotels & Hospitality
786.646.2583
Harry.mancera@berkadia.com
LARISSA ISENBERG
Senior Real Estate Analyst
Hotels & Hospitality
602.997.3817
Larissa.isenberg@berkadia.com
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