5250 W Bradbury Ave, Indianapolis, IN 462411367 Gardiner Ln, Louisville, KY 40213
Candlewood Suites 2-Hotel Offering
Asset ClassHotel & Hospitality
Overview
HREC Investment Advisors has been retained as the exclusive advisor and is pleased to present the opportunity to acquire the Candlewood Suites 2-Hotel Offering (sometimes referred to as “Hotels” or “Properties”) located in Indianapolis, IN & Louisville, KY.
Investment Highlights
- Significant Upside Potential – Recovering Market Conditions - A buyer has the opportunity to capitalize on two airport markets nearing full recovery. Both airports have experienced a notable increase of over 12% in enplanements from 2022 to 2023, indicating a strong recovery trend.
- Updated IHG Franchise Agreements Upon Completion of PIP - Both franchise agreements expire in September 2024. Both properties have the opportunity to relicense upon completion of the Property Improvement Plan (PIP). The indication from IHG is that the Candlewood Suites Indianapolis Airport will receive a 15 year license and the Candlewood Suites Louisville Airport will receive a 10 year license.
- Offered at a Discount to Replacement Cost - The acquisition of the Hotels represent an opportunity for investors to acquire well-constructed, midscale assets at pricing well-below replacement cost.
- Upside from Replacing Existing Management - The Properties present an opportunity for an investor to purchase the Hotels unencumbered by a management agreement. An investor possesses the opportunity to bring in a new management company or operate internally and seek to revamp the operational strategy of the Hotels.
- Sold Unencumbered from Management
- Fee Simple Interest
5250 W Bradbury AveIndianapolis, IN 462415250 W Bradbury Ave, Indianapolis, IN 462411367 Gardiner Ln, Louisville, KY 40213
Sales Team
Listing provided by Revere CRE