Residence Inn Lexington North, KY

UNDER CONTRACT

• Fee simple interest in the institutionally owned and third-party managed 80-room Residence Inn by Marriott Lexington North, KY
• Offered unencumbered by debt and management
• Ability to relicense with Marriott, with license term to be determined in discussions with brand
• PIP scope and cost expected to be reflective of and appropriate for available relicense term
• Adjacent to and visible from Newtown Pike and W New Circle Road with upwards of 50,000 vehicles passing the location daily and a recently announced expansion plan to accommodate upwards of 71,000 vehicles by 2030
• Readily accessible to Keeneland Race Track, Fasig-Tipton, Red Mile Gaming & Racing Track, and Kentucky Horse Park, home to a variety of events supporting the Thoroughbred industry including the prestigious annual Rolex Kentucky Event hosting ~90,000 people
• Readily accessible to all university demand including Georgetown College, Translyvania University, and the University of Kentucky with an annual enrollment of ~33,000 students and a ~6% growth rate from the previous year
• Proximate to all broader healthcare demand including Baptist Health, St. Joseph Hospital, Lexington VA Health Care System, and University of Kentucky Albert B. Chandler Hospital, a Level 1 trauma center with ~1,000 beds and plans to undergo a $2.4B expansion opening in 2026
• Proximate to all broader corporate demand including Lockheed Martin, Hitachi Automotive, Toyota Manufacturing, and across the street from Lexmark corporate headquarters with over 8,000 employees globally
• Readily accessible to Downtown Lexington including Manchester Music Hall, Lexlive, and Central Bank Center (Rupp Arena), which recently wrapped up a 10-year $310M renovation and has a current seating capacity of ~24,000