Listed by CBRE - Seattle, CBRE - Boston
Unpriced
HomeTowne Studios Portfolio
Details
Property Type Hospitality
Sub Type Hotel
Square Footage 1
Hospitality
Marketing description
CBRE Hotels, as exclusive advisor, is pleased to present the opportunity to acquire the fee simple interest in the HomeTowne Studios located in Salem, Oregon; Eugene/Springfield, Oregon; and Spokane, Washington, available individually or as a portfolio (the “Portfolio”, “Hotels”, “Assets”, or “Properties”).
All Assets benefit from the resilient extended-stay lodging model, characterized by longer average lengths of stay, reduced operating costs, and stable occupancy profiles relative to traditional select-service hotels. The Properties cater to a diverse mix of demand, including workforce housing, government, healthcare, and project-based corporate demand, all of which have demonstrated consistent performance across economic cycles.
Strategically located within the growing Pacific Northwest markets of Salem, Eugene/Springfield, and Spokane, the Properties are supported by strong regional economies, population growth, and diversified employment bases. Salem, as Oregon’s state capital, benefits from a stable government employment base, while Eugene/Springfield is anchored by the University of Oregon, healthcare systems, and a growing technology and manufacturing presence. Spokane serves as a key economic and logistics hub for Eastern Washington and the Inland Northwest, anchored by healthcare, education, and distribution sectors.
The Portfolio presents a compelling opportunity for investors to acquire cash-flowing extended-stay assets with upside potential through operational efficiencies, revenue management, potential brand repositioning, workforce housing or residential conversion. Additional value can be unlocked through targeted capital improvements and optimization of rate structures to align with current market dynamics. The Brand can be terminated for relatively minor liquidated damages. Currently corporate-managed from Florida, the Properties present immediate upside potential for an owner/operator to drive performance through hands-on management. Flexibility in the future positioning of the Hotels, with minimal PIP required by Red Roof and attractive key money packages and competitive PIPs are available from Choice and other extended stay brands.
Investment highlights
Salem investment highlights
- Ideally positioned within the core Salem submarket near a diverse mix of government, healthcare, and commercial demand
- Salem represents one of the most stable government‑driven employment bases in the Pacific northwest
- Large studio‑style rooms with kitchenettes, designed for extended‑stay guests
- Improving Revpar performance driven by government, healthcare, and extended‑stay demand
- Conversion and repositioning optionality
- Offered unencumbered of management
Spokane Investment highlights
- Ideally positioned near I-90 within the Spokane valley submarket near a diverse mix of healthcare, education, government, and industrial demand
- Spokane valley benefits from a diversified and growing employment BASE with stable extended stay demand drivers
- Large studio style rooms with kitchenettes, designed for extended stay guests
- Consistent Revpar performance supported by healthcare, education, and project based demand
- Conversion and repositioning optionality
- Offered unencumbered of management
Eugene/Springfield Investment Highlights
- Ideally positioned within the Eugene/Springfield submarket near a diverse mix of university, healthcare, and technology demand
- Eugene – Springfield is anchnored by the university of Oregon and a growing healthcare and innovation-driven economy
- Large studio style rooms with kitchenettes, designed for extended stay guests
- Consistent extended-stay demand driven by university, medical, and project-based corporate users
- Attractive workforce housing alternative in a supply-constrained market
- Conversion and repositioning optionality
- Offered unencumbered of management
Listing Contacts
Listed by CBRE - Seattle, CBRE - Boston
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