Extended Stay America Nashville Airport, TN

UNDER CONTRACT

• Fee-simple interest in the corporate owned and corporate managed 71-room Extended Stay America (ESA) Nashville Airport
• 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 +17%
• 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 three miles from Nashville International Airport – with current plans underway for the $1.4B expansion amidst a record 18.4MM annual passengers
• Ideally located within the Nashville MSA, proximate to all regional demand including Vanderbilt University, Grand Ole Opry, Country Music Hall of Fame, NFL Nissan Stadium, NHL Bridgestone Arena, and Downtown Nashville
• Property is readily accessible via Interstate 40 & Briley Parkway interchange with upwards of 150,000 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
• Nashville has seen unprecedented economic expansion with recent GDP growth of 12% – the second highest MSA GDP growth rate in the US
• Tennessee has been a primary benefactor of migration trends with business leaders seeking pro-business / lesser tax burdened markets and residents attracted to the sunbelt quality of life