DoubleTree by Hilton Jamestown
Bank Short Sale 2019 Redeveloped DoubleTree by Hilton Jamestown 147 Rooms
Marketing description
Marcus & Millichap is pleased to present the exclusive opportunity to acquire the DoubleTree by Hilton Jamestown. The 2019 $14M+ Redevelopment of the 8-story hotel features 147 room is being offered fee simple, unencumbered by management, through a Call for Offers. The seller is an institutional owner, and the transaction represents a bank short sale at a value significantly below redevelopment and replacement cost.
Upon transfer of ownership, the property will receive a new long-term relicense with Hilton upon completion of a Soft PIP. The hotel offers significant upside potential through optimized revenue management, including a reducing ADR to drive increased occupancy and optimize RevPAR. The hotel represents a like-new Upper Midscale Hilton-branded product at an attractive basis. The seller is highly motivated and will consider all offers.
Investment highlights
- Call For Offers Short Sale Offered at Significant Discount to Development Cost
- Long-Term Hilton Relicense Soft PIP
- 2019 $14M+ Building Redevelopment
- Institutional Seller Upside Through ADR recalibration & exp. reduction
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