Extended Stay America Eastern Blvd Little Rock, AR

UNDER CONTRACT

• Fee-simple interest in the corporate owned and corporate managed 85-room Extended Stay America (ESA) Eastern Blvd Little Rock AR
• 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 residual upside with trailing-12-month year-over-year ADR gains of +10%
• 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 one mile from Shackleford Crossings Shopping Center, Arkansas Heart Hospital and Baptist Health Medical Center Little Rock
• Ideally located in the Little Rock MSA, proximate to all regional demand including the University of Arkansas and UAMS Medical Center, Clinton Presidential Center, the State Capitol, and Bill and Hillary Clinton National Airport
• Property is proximate to the Interstate 430 & Interstate 630 interchange with upwards of 100,000 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
• Optimal time to invest in Central Arkansas with more than $650MM in upcoming developments, including the construction of the Trex Company’s new $400MM manufacturing plant in Little Rock and the $120MM Tractor Supply Distribution Center in neighboring Maumelle