Marriott TownePlace Suites

Doral, FL

Property Characteristics

  • 94 room hotel
  • Located in Doral, FL

Acquisition

  • August 2015

Investment Opportunity

  • Property purchased from a special servicer at auction, which required an immediate deposit and deterred competition
  • Very high in-place yield
  • The Doral submarket includes several demand drivers and is booming, with an expected increase in population of 15% over the next 5 years

Execution

  • Strongly accretive financing creates substantial cash-on-cash returns
  • Operational improvements in process

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