Listing Agents
Mike Schlictman
T | 803.920.4173
mikes@paramountlodging.com
Andrew Makhlouf
T | 312.610.9067
amakhlouf@paramountlodging.com
Mike Bou-Sliman with Naples Hotel Group FL 613138
Detailed Information
Location
Property Highlights
- Fee-simple interest in two corporate owned and managed 104-room and 83-room Extended Stay America Orlando – Maitland – 1760 & 1776 Pembrook Drive
- Both ESA Orlando – Maitland – 1760 Pembrook Dr. and ESA -Maitland -1776 Pembrook Dr. are on one parcel making it an ideal candidate for dual branding or residential conversion
- 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 +33% and +29%
- 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 other alternative use pending zoning and municipality approval.
- Situated less than five miles from Orlando Science Center, Altamonte Mall, Maitland Promenade, RDV Sportsplex, The Silly Grape, and Qualcomm.
- Ideally located within the Orlando MSA, proximate to all regional demand including Downtown Orlando, Walt Disney World, Universal Studios, NBA Amway Center, Orlando International Airport, International Drive, the Orange County Convention Center, and University of Central Florida.
- Properties are readily accessible via Interstate 4 with upwards of 190,000 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 market has grossly outperformed all other lodging sectors with particularly robust growth amidst the 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.
- Orlando is the 5th most visited city in the US with over $59 million visitors in 2021 and Walt Disney World Orlando is the 6th most visited attraction in the US.
- Orlando welcomes over 1,000 new residents a week and is one of the fastest-growing cities in the US.
- Florida is the fastest-growing state in the U.S. and 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