Country Inn & Suites Vero Beach, FL – Note Sale

Listing Agents

Subu Thiagarajan
T | 510.205.7931
subu@paramountlodging.com

Brian Guernier
T | 407.257.5277
bguernier@paramountlodging.com

Detailed Information
Property Highlights
  • $4.0MM non-performing loan (NPL) collateralized by the fee-simple interest in the three story, 15-year-old 65-room Country Inn & Suites Vero Beach, FL
  • The note was originated September 5, 2018 with a ten-year term, 25-year amortization, and a 5.56% interest rate.
  • Approximate balance as of $3.76MM as of October 1, 2021
  • Loan was transferred to special servicing on May 11, 2021
  • A receiver was appointed on June 3, 2021 with a simultaneous foreclosure filing
  • Property is ideally located in the southwest quadrant of Interstate-95 and State Road 60, in Indian River County with upwards of 19,000 vehicles passing the location daily
  • The hotel is well positioned within the greater Vero Beach submarket with easy access to State Road 60, a major east-west surface road connecting the east coast to the west coast of FL.
  • The hotel is adjacent to the Vero Fashion Outlets, and provides easy access to the Vero Beach downtown located approximately 7 miles east of the hotel
Location