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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Tampa
4890 West Kennedy Boulevard
Tampa, FL 33609
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300 South Orange Avenue
Orlando, FL 32801
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2320 S Germantown Road, 2nd Floor Germantown, TN 38138
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Magnolia Landing
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Prime Location in Jackson
Thriving, Well-Connected MSA
Value-Add Opportunity
Market Rate Conversion Opportunity
INVESTMENT HIGHLIGHTS
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PROPERTY NAME
The Lodge at Big Bear Lake, A Holiday Inn Resort Holiday Inn West Covina
LOCATION
Big Bear Lake, CA West Covina, CA
GUESTROOMS
148
135
YEAR BUILT/Reno
1995/2022 1966/2017
PORTFOLIO overview
Berkadia Hotels and Hospitality has been exclusively retained by the senior note holders (the “seller” or “lender”) for the sale of two independent mortgages secured by the fee simple interest in the 148-room The Lodge at Big Bear Lake, a Holiday Inn Resort and 135-room Holiday Inn West Covina (the “Hotels”, “Assets”, or “Properties”). The notes can be acquired individually or as a portfolio and all offers will be considered by the seller.
With ongoing foreclosure processes, which can each be independently closed as early as March 12th, 2025 or extended in 30-day increments by-right, the note sale offerings represent a unique opportunity for a new owner to capitalize on a clear path to ownership of premier full-service hotels in widely sought-after Southern California submarkets at an exceptionally attractive basis.
With more than 21 million people living within 150 miles of the Assets and 45 million people living within a reasonable drive-to distance, the Hotels boast strategic locations in Big Bear Lake and West Covina. These submarkets draw an array of visitor types from Southern California’s top feeder markets including Los Angeles – host city of the 2028 Olympics – Orange County, San Bernardino County, San Diego, and the Inland Empire, in addition to Las Vegas, NV and Phoenix, AZ. Furthermore, the Assets’ fee simple/non-union tenures with no management encumbrances, coupled with strong in-place cash flows, physical value-add upside, and immediate up-branding/conversion optionality on the Holiday Inn West Covina (currently operating on a temporary license), present a rare and highly compelling investment opportunity. A potential buyer will also soon have the ability to affiliate The Lodge at Big Bear Lake, a Holiday Inn Resort with one of the industry’s leading brands or soft-brands and their extensive global loyalty programs to drive increased market share, or operate the Asset as an independent/lifestyle resort, as the Hotel’s current Franchise Agreement terminates in December 2025.
Berkadia’s marketing campaign is not indicative of a traditional note sale process in which a buyer would need to initiate and complete a foreclosure. The current secured mortgagee is completing the individual foreclosures, and the sale of the subject notes are anticipated to close in a timely manner or in conjunction with the foreclosures, thereby providing the buyer(s) with a clear path to fee title.
EXECUTIVE SUMMARY
THE LOCATION
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Candlewood Suites Cleveland South – Independence (Dual-Brand)
Holiday Inn Cleveland South – Independence (Dual-Brand)
OHIO
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Holiday Inn Express North Palm Beach - Oceanview
Florida
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SpringHill Suites Fort Myers Estero
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ASSET LOCATIONS
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
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Year Built 2004 | Units 124 | Occupancy 98% 100 Chapel Ridge Drive, Jackson, TN
The Jackson Portfolio
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Chapel Ridge
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Chapel Ridge & Magnolia Landing
HOTELS & HOSPITALITY FINANCING
Scott Hall
Managing Director
858.257.4724
scott.hall@berkadia.com
Year Built 2003 | Units 60 | Occupancy 93% 100 Magnolia Landing Ct., Jackson, TN
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Over 70% of the units at these properties will transition to market rate units over the next three years, creating substantial rental upside.
With unit interior upgrades and amenity modernization, new ownership can realize a 23% growth in rental rates per unit.
Chapel Ridge and Magnolia Landing are only a 40-minute commute to the new Ford’s Blue Oval City Development, a project representing 6,000 jobs and $5.6 billion invested in the region.
Jackson, TN, the second largest MSA in West TN, is poised to experience 2% YOY population growth over the next four years. Its central location along I-40 attracts residents with strong income and job growth.
Investment Sales
Patrick Jordan
Managing Director 901.425.1828
patrick.jordan@berkadia.com TN #318783
Ben Parrish
Director 901.425.1829
ben.parrish@berkadia.com TN # 366891
