Hospitality Group

Avison Young Lists the Ohio Portfolio - 3 Properties

Avison Young Hospitality Group LogoWe proudly present the Ohio Portfolio which is comprised of Sleep Inn & Suites Galion, Comfort Suites Brunswick, and Comfort Suites Wooster.

 

Portfolio Highlights:

  • Assumable debt
  • Loan assumption decreases cash requirement and improves IRR
  • Assumption reduces or eliminates equity return expense
  • IRR potentially explodes with assumption
  • Significant Upside
  • Geographic economies of scale
  • Hotels opened in 2013, 2017 and 2018
  • Award winning design/builder
  • 400,000 square foot sports complex being built next door to the Galion hotel

 

Sleep Inn & Suites Galion

Sleep Inn GalionAvison Young, as sole exclusive agent, is please to offer the fee simple interest in the Sleep Inn & Suites Galion (hereinafter “Property,” or “Hotel”), a limited service hotel located in Galion, Ohio. The Property is situated on East Brandt Road which is off Highway 598. It is easily accessible via U.S. Highway 30. It is six miles away from the Galion Municipal Airport and two miles from the Downtown Galion. The Hotel is near local tourist attractions such as the Amick Reservoir, The Gill House, Brownella Cottage, Historic Grace Church and PECO Park. Dining, shopping, and entertainment options are within a few miles from the Hotel. The Hotel offers easy access to The Galion Community Theater, Valley View Golf Course, Heise Park, and Cobey Mountain Bike Trail. Local businesses near the Hotel include Avita Health Systems, Imasen Bucyrus Technology, Inc., Pittsburgh Glass Works, North Central State College, and Ohio State University at Mansfield.

The Property is a four-story, interior corridor hotel which opened in late February 2017. The Hotel has a lobby, reception and breakfast area, free full breakfast, an indoor heated pool, fitness center, business center, meeting space for up to 15 people, sundry shop, and hotel-wide WiFi Internet access. The Property offers 62 non-smoking guestrooms offering both king and queen beds that include flat screen televisions, work desk, WiFi, microwave, mini-refrigerator, and coffee maker. Provided in all guestrooms are Sleep Inn & Suites standard amenities.

 

Property Highlights:

  • 62 Non-smoking guestrooms
  • Four Story, Interior Corridor
  • Choice Family of Brands Near Local Area Businesses, Avita Health Systems, Imasen Bucyrus Technology Inc., and others
  • Crawford County and the State of OHIO building 400k square foot sports complex on site adjacent to Sleep Inn. Breaking ground Spring 2020.
  • Hotel sits on busiest four lane Highway 30 intersection in Galion
  • Assumable loan: $4.2mm at 6% amortized over 25 years

 

Comfort Suites Brunswick

Comfort Suites Brunswick Avison Young, as sole exclusive agent, is pleased to offer the fee simple interest in the Comfort Suites Brunswick (hereinafter "Property," or "Hotel"), a select service hotel located in Brunswick, Ohio. The Property is on Town Center Boulevard off of Interstate 71, two miles east of downtown Brunswick. The Hotel is less than five miles from Scene75 Entertainment Center, Mapleside Farms, and Heritage Farm Museum and Park. Castle Noel is nine miles away, and Bath Nature Preserve is 12 miles from the Hotel. Cleveland Hopkins International Airport is a short drive, 13 miles north. A variety of dining, shopping, and entertainment options are nearby. Additionally, downtown Cleveland is 24 miles north with attractions such as Progressive Field, the Rock and Roll Hall of Fame and Museum, and the Quicken Loans Arena. 


The Property is a four-story, interior corridor hotel which opened in the fall of 2018. The Hotel has a lobby, reception and breakfast area, fitness center, indoor heated pool, meeting space, and hotel-wide Wi-Fi Internet access. The Property offers 84 nonsmoking guestrooms offering both king and queen beds that include flat-screen televisions, work desk, Wi-Fi, microwave, refrigerator, coffee maker, and a pull-out sofa. Provided in all guestrooms are Comfort Suites standard amenities.

 

Property Highlights:

  • 84 Non-smoking guestrooms
  • Four Story, Interior Corridor
  • Choice family of brands
  • Located 24 miles from downtown Cleveland

 

Comfort Suites Wooster

Comfort Suites Dover Avison Young, as sole exclusive agent, is pleased to offer the fee simple interest in the Comfort Suites Wooster (hereinafter "Property," or "Hotel"), a select service hotel located in Wooster, Ohio. Located on Dover Road off Madison Avenue, the Property is easily accessible via U.S. Highway 30. It is nine miles away from the Wayne County Regional Airport and three miles from downtown Wooster. The Hotel is near local tourist attractions such as Amish Country, the College of Wooster, Ohio Light Opera, Wayne Center for the Arts, and the Ohio Agricultural Research and Development Center Library. Dining, shopping, and entertainment options are within a few miles from the Hotel. The Hotel offers easy access to nearby Orville Railroad Museum, O. Graham Dunn Gallery, Troutman Vineyard and Winery, and Wayne County Speedway. Local businesses near the Hotel include J.M. Smucker Company, Certified Angus Beef, Wooster Community Hospital, and Cleveland Clinic Wooster. There are three local/area higher education institutions: the College of Wooster, Ohio State Agricultural Technical Institute, and the University of Akron Wayne College.

The Property is a four-story, interior corridor hotel that opened in 2018. The Hotel has a lobby, reception and breakfast area, indoor heated pool, fitness center, 880 square feet of meeting space and hotel-wide Wi-Fi Internet access. The Property offers 80 non-smoking guestrooms offering king and queen beds that include flat screen televisions, work desk, Wi-Fi, microwave, mini-refrigerator, coffee maker, and premium bedding. Provided in all guestrooms are Comfort Suites standard amenities.

 

Property Highlights:

  • 80 non-smoking guestrooms
  • Four story, interior corridor
  • Near Three Local Colleges/ Top 100 Micropolitan Statistical Area
  • Seller Financing Available/Seller Warranty Extended
  • Current Management and Staff Able to Stay
  • Assumable $6.5mm loan with balance payable in cash and seller financing

 

For more information on the Ohio Portfolio, contact:


Mike George
[email protected]
312-371-6550
or
Rick George
[email protected]
312-434-2430

published: 07-24-2020

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