Hotels for Sale

Courtyard by Marriott Shawnee, KS

Address:
Shawnee, Kansas
Description:
  • $7.6MM non-performing loan (NPL) collateralized by the fee simple interest in the 90-room Courtyard Kansas City Shawnee KS
  • Non-performing loan is being offered in the June 30, 2021 auction event via Ten-X
  • The note was originated in May 2015 with a 10-year term, 30-year amortization, and an interest rate of 4.54%, where the principal balance is approximately $7MM as of April 1, 2021
  • Payment default on the loan occurred in May 2020. A receiver was appointed in December 2020 with borrower agreeing to a consented foreclosure and receiver sale process
  • 2005 build, concrete and steel framed asset is well-positioned for a potential full-term relicense with Marriott
  • Subject Hotel is located adjacent to I-435 at the Midland Dr. exit with upwards of 60,000 vehicles passing daily
  • Proximate to key Shawnee area demand including AdventHealth Shawnee Mission Medical Center, Lenexa Convention Center, the Kansas Speedway, Oak Park Mall, and Legends Outlets
  • Readily accessible to downtown Kansas City and all core regional demand including the Kansas City International Airport, Power & Light District, the Kansas City Zoo, and Arrowhead Stadium
  • Substantial developments anticipated for the surrounding Shawnee area include a re-brand of the former Sprint corporate HQ campus into the 2.7MM SF mixed-use Aspiria project and a $436MM repurpose of the former Schlitterbahn water park site among several others
  • Kansas City is well-positioned to capitalize on the post-COVID recovery with several sizable private and public investments underway including the $1.5B expansion of the Kansas City International Airport (KCI) - the single largest infrastructure project in the city’s history

Listing Agents

Lora Simpson
T | 515.729.4516
Email

Adam Montufar
T | 515.446.4181
Email

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