Extended Stay America Dallas Market Center, TX

UNDER CONTRACT

• Fee-simple interest in the corporate owned and managed 97-room Extended Stay America (ESA) Dallas Market Center
• 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-12-month year-over-year average RevPAR gains of +19%
• Offered unencumbered of brand, debt, and management – with a variety of alternative brand options available for conversion
• Extended Stay product type with fully equipped kitchens is ideal for potential residential conversion or alternative use pending zoning and municipality approval
• Situated three miles from the 40-acre Dallas Market Center where plans are currently underway for a 5MM square foot mixed use development
• Ideally located within the Dallas Fort Worth (DFW) MSA, proximate to 22 Fortune 500 companies, Dallas Love Field Airport, UT Southwestern Parkland Heath & Hospital System, and all regional demand including American Airlines Arena, AT&T Stadium, downtown Dallas, and Southern Methodist University
• Property is readily accessible via Interstate 35 (Stemmons Freeway) with upwards of 250,000 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
• DFW has been one of the fastest growing metropolitan areas in the United States since 2010 where the population has increased nearly 17% to approximately 7.8M
• Migration trends continue to heavily favor Texas with strong quality of life and pro-business / low tax environment drawing residents and corporate relocations from across the country