Detailed Information
Location
Property Highlights
- Fee simple interest in the institutionally owned and third-party managed 94-room TownePlace Suites by Marriott Philadelphia Horsham, PA
- 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
- Property received +$2.4MM in capital renovations completed over trailing 18-months
- Located near the I-276 / State Route 611 interchange with upwards of 100,000 vehicles passing the area daily
- Proximate to all university demand, including Arcadia University, Gwynedd Mercy University, Delaware Valley University, Temple University, La Salle University, Drexel University, and University of Pennsylvania
- Readily accessible to all neighboring healthcare demand, including the 665-bed Jefferson Abington Hospital, 260-bed Holy Redeemer Hospital, 271-bed Doylestown Hospital, and Jefferson Health-Willow Grove
- Proximate to all Horsham and broader Philadelphia Metro area corporate demand including downtown Philadelphia, Toll Brothers Headquarters, Penn Mutual Life Insurance Company Headquarters, Nutrisystem Headquarters, AAMCO Transmissions Headquarters, Bimbo Bakeries, Johnson & Johnson, Merck & Co., and Lockheed Martin
- Readily accessible to Philadelphia International Airport (PHL) which saw an annual increase of ~13% in total passenger volume for 2023
- Optimal time to capitalize on Philadelphia’s growth with the business community raising over $1.78BB in investment funding in 2023 and the city hosting the 2026 FIFA World Cup