Marriott TownePlace Suites

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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