Listing Agents
Omari Head
T | 410.406.7259
ohead@paramountlodging.com
Sean Banilivy
T | 516.456.7525
sbanilivy@paramountlodging.com
Detailed Information
Location
Property Highlights
- Fee simple interest in the 216-room, institutionally owned and third-party managed Embassy Suites by Hilton Cleveland Beachwood, OH
- Property offered for sale in the October 2nd auction event via Ten- X
- Upper Upscale, all-suite Hilton asset offered unencumbered by management or debt at a discount to replacement cost
- Ability to retain the Hilton flag for a new long-term license upon completion of the change of ownership PIP
- Strong upside transitioning from institutional ownership and a national third-party operator to an investor with strong operating economies of scale
- Opportunity to better position the asset amongst the competitive set upon completion of the PIP
- Property is situated directly adjacent to Interstate-271 with over 150,000 vehicles passing the location daily
- Within walking distance to the 150-bed, 53-acre University Hospitals Ahuja Medical Center campus
- Within walking distance of the 600k SF, 53-acre campus Eaton Beechwood headquarters – one of the area’s largest employers
- Proximate to all regional corporate demand including Eaton (HQ), Synthomer, Menorah Park, PCC Airfoils, and Tremco Roofing
- Beachwood is a popular leisure destination that is home to Acacia Reservation, Beachwood Place Mall, Maltz Museum of Jewish Heritage, Beachwood Family Aquatic Center, Highland Park Golf Course, Canterbury Golf Club, and the Jack Thistledown Racino
- Several prominent institutions of higher education are proximate to the Subject Hotel including Notre Dame College, John Carroll University, Ursuline College, University School – Shaker Heights Campus, Baldwin Wallace University, and Cuyahoga Community College
- Readily accessible to all broader area healthcare demand including Cleveland Clinic, St. Vincent Charity Medical Center, University Hospital Beachwood Medical Center, and MetroHealth Cleveland Heights Medical Center
- Convenient access to all downtown Cleveland demand, including, Quicken Loans Arena, Progressive Field, FirstEnergy Stadium, the Rock and Roll Hall of Fame, and the Children’s Museums on Cleveland