Extended Stay America Annapolis – Admiral Cochrane Drive, MD

UNDER CONTRACT

• Fee-simple interest in the corporate owned and managed 97-room Extended Stay America (ESA) Annapolis – Admiral Cochrane Drive
• Available for individual sale, part of a South / Southeast ‘Sun-Belt’ 17-property portfolio available in the auction events ending on March 15th-16th
• Ability to purchase any combination of the 17-assets, affording buyers the opportunity to capitalize on strong regional operating economies of scale
• Strong in-place performance with trailing-24-month year-over-year average ADR gains of 14%
• Offered unencumbered of brand, debt, and management – with a variety of alternative brand options available for conversion
• Product type with fully equipped kitchens is ideal for potential residential conversion or alternative use pending zoning and municipality approval
• Situated less than seven miles from the world renowned United States Naval Academy, host to more than 100,000 guests annually
• Ideally located within the state capital, proximate to all regional demand including Navy – Marine Corps Memorial Stadium, St. Johns College, Sinai Hospital, Westfield Annapolis Mall, Arts District, Chesapeake Bay, and Live Casino
• Property is readily accessible via US Route 50 & US Route 301 on Maryland’s Western Shore with upwards of 40,000 vehicles passing the location daily
• Rare opportunity to purchase corporate owned ESA assets amidst their first public marketing of properties since the +$6B portfolio acquisition in June 2021
• Extended stay economy product is widely revered as recession proof and remains a favorite investment sector amidst private and public investors
• Extended stay economy product has also vastly outperformed all other lodging sectors in recent years, with particularly robust growth amidst the COVID recovery
• High margin business model is ideally well positioned for any forward economic contraction given limited labor requirements with no sales department or food and beverage offering
• Annapolis offers prospective investors the ideal demand mix of government, leisure, and university and is ideally well positioned approximately equal distance from both Washington DC and Baltimore