Radisson Hotel & Conference Center Ames, IA

UNDER CONTRACT

• Fee simple interest in the 75-room lender-owned Radisson Hotel & Conference Center Ames, IA
• Property has been REO and under third-party management since July 2022, offering significant operational upside for new ownership
• Ability to retain the Radisson by Choice flag for a long-term relicense upon completing the change of ownership PIP
• Potential to also convert the hotel to one of several flags, including the new Project Mid-T concept from Marriott, Garner by IHG, and Wyndham Garden Inn, among others
• Subject is zoned HOC, which also allows a student housing or apartment purpose with the approval of a Special Use Permit by the Ames Zoning Board
• Strategically situated at the intersection of Highway 30 and University Blvd, just south of Iowa State University, with a high daily traffic count above 30,000 vehicles
• Walking distance to Iowa State University Research Park (ISURP), a growing 500-acre technology community and incubator for new and expanding businesses, serving upwards of 100 companies with more than 800,000 square feet of developed building space
• Proximate to all core market demand, including Iowa State University (~31k students), Reiman Gardens, and Mary Greeley Medical Center
• Within minutes of two significant upcoming developments: the $200 million CYTown entertainment district and the $155 million Link mixed-use project
• Ames is located off major Interstate 35, directly north, and conveniently accessible from Des Moines, Iowa’s largest MSA and state capital