Listing Agents
Adam Montufar
515.446.4181
amontufar@paramountlodging.com
Brent Clemens
312.402.2959
bclemens@paramountlodging.com
Jamie Cote, Hilco Real Estate
847.418.2187
jcote@hilcoglobal.com
Jordan Schack, Hilco Real Estate
847.504.3297
JSchack@hilcoglobal.com
Detailed Information
Location
Property Highlights
- Fee simple interest in the 271-room Delta by Marriott Detroit Metro Airport available through a traditional receivership sale
- Opportunity to acquire an upscale Marriott hotel in a top Midwest MSA at a significant discount to replacement cost
- Offered unencumbered of management and debt with potential to assume the existing loan at a 4.9% rate and term through February 2030
- Ability to retain the Delta by Marriott flag for a new long-term license with PIP completion
- Situated on ~9.17 acres with direct visibility and access from I-94 and the 117,000+ vehicles passing the location daily
- Ideally positioned in the heart of the DTW corridor and readily accessible to the airport’s nearly 31MM T12 October passengers (up 10.5% from YE 2022)
- Detroit Metropolitan Wayne County Airport (DTW) is Michigan’s largest airport and recognized as one of the world’s leading airports, offering service from 17 airlines with ~800 flights per day to and from more than 125 nonstop destinations
- Proximate to numerous Fortune 500 companies including the “Big Three” U.S. auto manufactures Fiat Chrysler, Ford, and General Motors
- Convenient to all broader regional demand including four professional sports organizations, Detroit’s Defense Corridor, Henry Ford Hospital, The University of Michigan, and the $5.7B Gordie Howe International Bridge infrastructure project
- Detroit will host the 2024 NFL Draft, a three-day event that is expected to draw upwards of 400,000 people and generate an economic impact bigger than the $300MM experienced during the city’s 2006 Super Bowl