Hotels for Sale

SpringHill Suites Tulsa, OK

Address:
Tulsa, Oklahoma
Description:

UNDER CONTRACT

  • Fee simple interest in the institutionally owned and third party managed 76-room Springhill Suites Tulsa, offered at a substantial discount to replacement cost
  • Lender controlled asset was part of a larger portfolio foreclosure in 2017
  • Property is being sold individually in addition to the adjacent Residence Inn (also sold individually) offering buyers opportunity to purchase both assets and capitalize on strong operating economies of scale in owning adjacent Marriott product spanning two different Marriott service sectors
  • Available unencumbered of debt and third-party management with the ability to retain the Residence Inn brand for a new long-term license
  • Significant operational upside following foreclosure process with very limited capital investment in property improvements in many years
  • Significant top-line growth prospects relative to current comp set performance, following completion of comprehensive Marriott PIP
  • Within walking distance of numerous full-service nationally recognized restaraunts
  • Readily accessible to US Highway 64 (Mingo Valley Expressway) and within south Tulsa’s primary retail corridor along 71st street, with upwards of 50,000 vehicles passing the location daily
  • Ideally located just ten-miles south of downtown Tulsa and easily accessible to all core regional demand generators including Oral Roberts University, Tulsa Convention Center, BOK Center, University of Tulsa, and Tulsa International Airport

Listing Agents

Subu Thiagarajan
T: 510.205.7931
Email
DRE #01891134

Bennett Webster
T: 312.339.3698
Email

Brent Clemens
T: 312.239.0572
Email

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