Listing Agents
Lora Simpson
T | 515.729.4516
lsimpson@paramountlodging.com
Adam Montufar
T | 515.446.4181
amontufar@paramountlodging.com
Detailed Information
Location
Property Highlights
- Fee simple interest in the lender-owned 112-room Hilton Garden Inn Ames being sold in the April 5th auction event on Ten-X
- Upscale select-service Hilton asset in a Big 12 university market available at a substantial discount to replacement cost
- Strong operational upside for new ownership with property under receiver management since February 2021 and REO since September 2021
- Offered unencumbered of management with ability to retain the Hilton Garden Inn brand through a long-term relicense agreement with Hilton
- Limited change of ownership PIP anticipated with $2.8MM ($25k/key) of property renovations & repairs completed in recent years
- Conveniently situated just southwest of Iowa State University at Highway 30 exit 144 with upwards of 21,000 vehicles passing the location daily
- Proximate to all core market demand including Iowa State University (~31k students), Reiman Gardens, and Mary Greeley Medical Center
- Within minutes of two major upcoming developments; the $200MM CYTown entertainment district and $155MM Link mixed-use project
- Ames is located off major Interstate 35, directly north and conveniently accessible from Iowa’s largest MSA and state capital of Des Moines