Hotels for Sale

Wingate by Wyndham Sioux City, IA

Address:
Sioux City, Iowa
Description:

UNDER CONTRACT

  • Fee simple interest in the 62-room former Fairfield Inn Sioux City offered at a fraction of replacement cost
  • Property offered for individual sale through Ten-X as part of a larger portfolio sale on October 24th
  • Significant operational upside following lengthy foreclosure process in 2017 with very limited capital investment in property improvements and very limited operational oversight in many years
  • Available unencumbered of debt and third-party management with rebranding to Wingate by Wyndham completed in late July 2018
  • Seller has pre-negotiated franchise terms with Wyndham including the buyer option for reduced royalty fees or key money payment
  • Financing available with upwards of 80% 'Loan to Cost' (LTC) for qualified bidders
  • Minimal Wyndham change of ownership PIP expected upon transfer of franchise and sale of asset with 18-month deferment on full PIP requirements
  • Easily accessible to Interstate-129 with upwards of 100,000 cars passing the location daily
  • Within walking distance of Southern Hills Mall and Lakeport Commons Shopping Center totaling more than 1.5MM square feet of retail, including numerous full-service nationally recognized restaurants
  • Proximate to all core regional corporate and leisure demand including downtown Sioux City, Mercy Medical Center, St Lukes Regional Medical Center, 195thAir Refueling Wing, and Sioux Gateway Airport

Listing Agents

Subu Thiagarajan
T: 510.205.7931
Email
DRE #01891134

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