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Wexford, PA | Hotel | Closed on RealINSIGHT Marketplace

  • Nov 01, 2019
  • Marketplace Closings

The 88-Key, Limited-Service Hotel Received Interest From Across 26 States and Canada.

Hampton Inn Wexford Closed on RealINSIGHT MarketplaceTHE CHALLENGE:
The asset, was a new build, proto-type Hampton Inn that was not fully stabilized. The market fundamentals were strong with a “best in class” brand positioned to cannibalize market share. The seller understood the “as is” value but desired a price that was close to the stabilized value as possible. Creative marketing and a robust auction platform were required to maximize investment demand.

EXECUTION:
Berkadia and the seller selected RealINSIGHT Marketplace to craft a marketing effort showing the strength of the opportunity both present and forecasted and presented a path to maximize the future value of the asset. By focusing on the potential value of the asset, the marketing campaign targeted potential buyers around the country, generating 100 confidentiality agreements from 26 states and Canada.

THE RESULT:
The unique marketing approach brought a high amount of traffic to the property page with 100 signed Confidentiality Agreements from 26 states and Canada and 11 vetted bidders. The winning bidder benefited from acquiring a property at a discount to stabilized value and enjoy the upside as property performance and cash flows were maximized.

TRANSACTION HIGHLIGHTS:
Reserve: 100% - Reserve Met
Signed Confidentiality Agreements: 100
Fully Vetted Bidders: 11
Total Bids: 21