Hotels for Sale

Fairfield Inn & Suites Fort Wayne, IN

Address:
Fort Wayne, Indiana
Description:
  • Fee simple interest in the 83-room Fairfield Inn & Suites North Fort Wayne, IN offered at a discount to replacement cost
  • Available unencumbered of debt and management with ability to retain the Fairfield Inn & Suites by Marriott flag via a long-term relicense agreement
  • High yield investment with forecasted year one double-digit cash on cash returns
  • T12 RevPAR growth of 22% with current in-place RevPAR of $82+, exceeding national brand average performance
  • Moderate change of ownership PIP anticipated with approximately $490,000 (~$6/key) already invested since 2015 to address complete seven-year refresh
  • Optimal location less than four miles north of downtown Fort Wayne adjacent to the intersection of I-69 and US 27 Lima Road, an exit passed by upwards of 64,000 vehicles daily
  • Ideally situated just minutes from several of the area's largest demand drivers including Spiece Fieldhouse, Parkview Sports Medicine Complex, Fort Wayne Children’s Zoo, Allen County War Memorial Coliseum, multiple Parkview Medical and Lutheran Health facilities, Headwaters Park, and the core Fort Wayne CBD
  • Marketwide ADR has increased approximately $30 since 2015, driven by over $1.65 billion worth of capital investment from Fortune 500 companies including the ongoing $1.2 billion GM assembly plant expansion, the largest such single investment ever by GM at a U.S. assembly plant

Listing Agents

Adam Montufar
T: 515.446.4181
Email

Bennett Webster
T: 312.339.3698
Email

Brent Clemens
T: 312.239.0572
Email

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