TAMPA USF BUSCH GARDENS

Transcription

1 TAMPA USF BUSCH GARDENS Tampa, Florida OFFERING SUMMARY 1 Holliday Fenoglio Fowler, L.P. ("HFF"), a Florida licensed real estate broker.

2 INVESTMENT OVERVIEW Holliday Fenoglio Fowler, L.P. ( HFF ) is pleased to offer an exclusive opportunity to acquire the fee simple interest in the 123-key Holiday Inn Express & Suites Tampa - USF - Busch Gardens ( the Property or Hotel ). The Property is in a prime location off of I-275 and in close proximity to many of Tampa s main demand drivers, including Busch Gardens The University of South Florida, Florida Hospital Tampa, Shriners Hospital for Children, Moffitt Cancer Center, and James Haley Veterans Hospital. Opened in late 2008, the Hotel offers a range of impressive amenities, including a 24-hour fitness center, a business center, and an outdoor heated pool, among others. The property also benefits from renovated public spaces in compliance with IHG s Formula Blue brand standard. The Property presents an opportunity to acquire a well-performing asset with excellent upside in a well performing lodging market. Prospective buyers will have the ability to capitalize on the Hotel s tremendous location and well-established brand. PROPERTY OVERVIEW Year Built 2008 Guestrooms 123 Address 2807 E. Busch Blvd, Tampa, FL Meeting Space 725 SF Amenities Heated Outdoor Pool Fitness Center Free Internet Service Ownership Structure Fee-Simple Complimentary Breakfast Business Center Florida Green Lodging Designated OFFERING PROCESS Process and Format The Property is offered on an as-is, where is basis. Prospective purchasers are encouraged to evaluate the merits of this investment opportunity thoroughly and review the Property proactively and aggressively prior to submitting a proposal. Following distribution of the Offering Materials, HFF is available to assist potential investors in the review of the information contained within. HFF strongly recommends scheduling a property tour with a member of the transaction team noted on the last page. Offering Materials A due diligence website, which includes HFF s Offering Memorandum and pertinent source documents, will be available to prospective purchasers upon execution of HFF s confidentiality agreement. Financing The Property will be sold on an all-cash basis without contingency for financing. However, HFF is actively discussing the transaction with lenders and can provide additional insight regarding potential financing quotes for the Property. 2

3 INVESTMENT HIGHLIGHTS Proximate to Major Demand Generators N Museum of Science and Industry h 40t ST Entertainment: Adjacent to the Property is Busch Gardens, a 335-acre Africanthemed animal theme park that attracts over 4 million people each year, ranking it among the top 30 most-visited theme parks worldwide. Adventure Island, a water park located across the street from Busch Gardens, attracts over 600,000 visitors each year. Both parks are part of SeaWorld Entertainment, a divison of Blackstone Group. Other demand generators in the area include Lowry Park Zoo, Florida Aquarium, and the Museum of Science and Industry. E Fowler Ave 50,000 + Students SHRINERS HOSPITALS FOR CHILDREN N 30th ST The Property enjoys an ideal location off of Interstate 275, a major circumferential highway serving the Tampa MSA. The Hotel is 10 minutes north of downtown Tampa and Ybor City, less than 25 minutes from Tampa International Airport, and within a day s drive of over 20 million residents. Many of Tampa s major demand generators, including Busch Gardens, University of South Florida, and Moffitt Cancer Center, are within three miles of the Property. TAMPA - USF - BUSCH GARDENS Top 10 US Water Park in annual attendance More than 4 million visitors a year E. Busch Blvd Downtown Tampa 5.5 Miles Hillsborough River Rogers Park Golf Course Medical: There is a prominent healthcare cluster less than three miles north of the Hotel that includes Moffitt Cancer Center, Shriners Hospitals for Children, and James A. Haley Veterans Hospital, among others. Moffitt Cancer Center is the #1 Cancer Center in the Southeast, according to US News & World Report, employs over 4,500 people, and generates over $1.6 billion in direct economic output. Education: Less than two miles north of the Property is the University of South Florida. With an enrollment of over 50,000 students, USF is one of the largest universities in the United States. Transportation: The Tampa International Airport, located 25 minutes from the Property, serviced over 19.6 million passengers in 2017 and is the third busiest airport in the state of Florida. The airport is currently undergoing a $4 billion capital improvements project that will expand its capacity to 35 million passengers per year. The $1 billion first phase is slated for completion in Q The Port of Tampa Bay, less than 10 miles south of the Hotel, is a major contributor to the Tampa economy, generating 80,000 jobs and delivering roughly $15 billion in annual economic impact. 3

4 INVESTMENT HIGHLIGHTS High-Quality Asset The Holiday Inn Express & Suites Tampa - USF - Busch Gardens is a select service 123-key hotel. The Property offers a range of impressive amenities, including a fully-equipped fitness center, business center, heated outdoor pool, a complimentary breakfast, and complimentary internet service for all guests. The Property was built in late 2008 and features block and concrete plank construction, allowing it to be well-maintained. The hotel s public spaces were renovated in The asset is being offered on a fee-simple basis to prospective investors. Below Replacement Cost Basis The Property will be offered at a discount to replacement cost, allowing a new owner to acquire a significant key-count with a limited basis. With little threat of new supply due to the relative lack of developable, fee-simple land, the offering is an incredible opportunity to penetrate this market and create long-term value and profitability while simultaneously riding the current recovery. Unencumbered by Management The Property is offered unencumbered by its existing management agreement. The Property is essentially a blank slate where changes to management can serve as a catalyst for long-term growth in revenues, profits, and value. The opportunity to place new management appeals to well capitalized owner-operators as potential investors in the Property. The Property s location near USF and Busch Gardens makes the opportunity very attractive to major lodging owner-operators. Dominant Brand and Distribution System Holiday Inn Express and Suites is a limited-service hotel chain within InterContinental Hotels Group (IHG) s family of brands. IHG is one of the world s leading hotel companies, with 5,273 open hotels and 1,553 hotels in the pipeline. Holiday Inn Express and Suites owners benefit from IHG s typically large contribution to hotel sales. Serving over 100 million members worldwide, IHG is the first and largest loyalty program in the industry. Additionally, IHG markets online in almost 90 languages and maintains 9 call centers with service in 13 languages. Holiday Inn Express has exceptionally strong brand recognition among Latin American and European tourists, who make up a large and fast-growing segment of travelers visiting Florida for vacation. 4

5 TAMPA USF BUSCH GARDENS Tampa, Florida hfflp.com CONTACTS: MICHAEL WEINBERG Senior Managing Director PRESTON REID Director AUSTIN LAPOTEN Associate DEBT CONTACT: REBECCA VAN REKEN Managing Director Holliday Fenoglio Fowler, L.P. ( HFF ), a Florida licensed real estate broker Holliday Fenoglio Fowler, L.P., HFF Real Estate Limited (collectively, HFF ), HFF Securities L.P. and HFF Securities Limited (collectively, HFFS ) are owned by HFF, Inc. (NYSE: HF). HFF and its affiliates operate out of 25 offices and are a leading provider of commercial real estate and capital markets services to the global commercial real estate industry. HFF, together with its affiliates, offers clients a fully integrated capital markets platform including debt placement, investment advisory, equity placement, funds marketing, M&A and corporate advisory, loan sales and loan servicing. For more information please visit hfflp.com or follow HFF on HFF has been engaged by the owner of the property to market it for sale. Information concerning the property [properties] described herein has been obtained from sources other than HFF, and neither Owner nor HFF, nor their respective equity holders, officers, employees and agents makes any representations or warranties, express or implied, as to the accuracy or completeness of such information. Any and all reference to age, square footage, income, expenses and any other property specific information are approximate. Any opinions, assumptions, or estimates contained herein are projections only and used for illustrative purposes and may be based on assumptions or due diligence criteria different from that used by a purchaser, and HFF, its partners, officers, employees and agents disclaim any liability that may be based upon or related to the information contained herein. Prospective purchasers should conduct their own independent investigation and rely on those results. The information contained herein is subject to change.