Hampton Inn Derby, KS – Note Sale

Detailed Information
Property Highlights
  • $5.0MM non-performing loan (NPL) collateralized by the fee-simple interest in the 63-room Hampton Inn Derby, KS
  • Non-performing loan is being offered in the December 9th auction event with RI Marketplace
  • The note was originated October 12, 2018 with a ten-year term, 25-year amortization, and an interest rate of 5.89%, where the principal balance is approximately $4.8MM as of November 1, 2021
  • Payment default on the loan occurred in April 2020 and the loan was transferred to special servicing in June 2020
  • Property is currently receiver-managed with receiver appointed by the court in August 2020 and there is a signed consent to foreclose from the Borrower
  • Subject hotel is located just off Highway 15 with direct connectivity to the broader Wichita, KS MSA
  • Conveniently situated within 10 minutes of McConnell Air Force Base and airline offices for Boeing, Spirit AeroSystems, and Cessna
  • Easily accessible to other key regional demand including HQ offices for Accession Via Christi and Koch Industries, and the campus of Wichita State University