Berkadia Hotels & Hospitality | ALIS Conference Book

ALIS

AMERICAS LODGING INVESTMENT SUMMIT

LOS ANGELES, CA | JANUARY 28-30, 2025

EXCELLENCE DRIVES US. Have the confidence of knowing you’re working with the best. With Berkadia Hotels & Hospitality, each transaction is a personal commitment to our clients’ success and satisfaction.

We’ve sat in every seat at the table.

We’ve learned that there’s more to this business than just the process and players.

Whether you’re seeking an opportunity in an emerging market or in a well‑established urban destination, our team of experts in mortgage banking and investment sales is ready for you.

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BERKADIA HOTELS & HOSPITALITY

A LIS | JANUARY 28 – 30, 2025

3

IT’S IN OUR DNA. Our mission is inspired by our two shareholders who created Berkadia— Berkshire Hathaway and Jefferies Financial Group. Both firms are renowned for their capital strength, sophisticated investment strategies and exacting attention to their clients’ diverse needs.

We're honored to infuse our Berkadia values into everything we do. When you work with us, you’re more than a client, and more than a partner. You’re a member of our family.

Investment Sales

Mortgage Banking

When you equip the right professionals

Your projects, of any size and location, benefit

with industry-leading insights and tools,

from best‑in‑class financing partners and

the result is better investment outcomes.

unparalleled access to capital.

Servicing

Technology

Get customized solutions and seamless

Advanced decision‑making with actionable

service with our established resources

insights backed by our powerful data.

and proven expertise.

CLOSING IS JUST THE END OF THE BEGINNING. We’re in this for the long haul.

To us, every deal is the start of a new relationship or the continuation of one built on performance and trust.

Our clients are family, and we’re relentlessly focused on your long-term success.

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BERKADIA HOTELS & HOSPITALITY

CURRENT LISTINGS PROPERTY

LOCATION

KEYS CONTACT

PAGE

The Hoxton Williamsburg

Brooklyn, NY

175

Kelso, Michels, Greenberg, Lindgren

The Hoxton Chicago

Fulton Market, Chicago, IL 182

Lindgren, Kelso, Michels, Greenberg

9

Luxury NYC Hotel Recapitalization

New York, NY

250

Kelso, Michels

10

The Chatwal, New York

New York, NY

76

Kelso, Michels, Vazquez, Greenberg 11

Z Hotel New York

Long Island, NY

100

Michels, Kelso, Vazquez

Residence Inn Boston Burlington

Burlington, MA

170

Meikleham, Kluh

13

Hampton Inn Schenectady Downtown

Schenectady, NY

93

Meikleham, Kluh

14

DoubleTree Schenectady Downtown

Schenectady, NY

120

Meikleham, Kluh

15

Embassy Suites Boston Marlborough

Marlborough, MA

230

Meikleham, Kluh

16

Town & Country Resort San Diego (Debt)

San Diego, CA

671

Hall, Lapping

18

El Caminante Bar & Bungalows (Debt)

Capistrano Beach, CA

30

Hall, Lapping

19

The Lodge at Big Bear Lake, a Holiday Inn Resort

Big Bear Lake, CA

148

Hawkins, Meikleham, Hall, Lapping

20

Holiday Inn West Covina

West Covina, CA

135

Hawkins, Meikleham, Hall, Lapping

21

Residence Inn Vancouver Portland

Vancouver, WA

87

Hall, Lapping, Hawkins

22

Holiday Inn Erie

Erie, PA

150

Hawkins, Vazquez, Pietras

23

Marriott Baltimore Washington International Airport Linthicum Heights, MD

315

Hawkins, Stevenson, Pietras

24

Hotel Silver Spring

Silver Spring, MD

248

Hawkins

25

Embassy Suites Raleigh Crabtree

Raleigh, NC

225

Kelso, Michels, Vazquez

26

Courtyard Harrisonburg

Harrisonburg, VA

125

Hawkins, Stevenson, Pietras

27

Courtyard Bristol

Bristol, VA

175

Hawkins, Stevenson, Pietras

28

Former DoubleTree Atlanta North Druid Hills Emory Area

Atlanta, GA

209

Stevenson, Isenberg

29

Q&C Hotel and Bar New Orleans, Autograph CollectionNew Orleans, LA

196

Michels, Kelso, Vazquez

30

Holiday Inn & Candlewood Suites Cleveland South - Independence (Dual-Brand)

345

8

12

Holiday Inn Express North Palm Beach Oceanview Juno Beach, FL

108

SpringHill Suites Fort Myers Estero

Estero, FL

100

Florida Hampton Inn Portfolio

Tampa, FL

233

Hawkins, Castillo, Pietras, Sahlsten Hawkins, Castillo, Pietras, Sahlsten Hawkins, Castillo, Pietras, Sahlsten Weinberg, Sahlsten

La Quinta Inn & Suites Orlando Airport West

Orlando, FL

128

Castillo, Sahlsten

35

Fairfield Inn Orlando Airport

Orlando, FL

139

Stevenson, Mancera

36

Lake Buena Vista, FL 170 San Jose, Costa Rica / Playa 500 Costa Rica Marriott Portfolio Herradura, Costa Rica Corendon Curacao All-Inclusive Resort Portfolio Willemstad, Curacao 793 St. Croix, U.S. Virgin 156 Carambola Beach Resort Islands

Stevenson, Mancera

37

Fairfield Inn & Suites Lake Buena Vista

Independence, OH

31 32 33 34

Charre, Weimer, Garcia-Chacon, Jin 38 Charre, Weimer, Garcia-Chacon, Jin 39 Charre, Weimer, Jin

A LIS | JANUARY 28 – 30, 2025

40 7

175 KEYS

The Hoxton Williamsburg Brooklyn, NY

HIGHLIGHTS

Opened: 2018 Meeting Space: 2,000 SF Management Availability: Unencumbered Contact: Jared Kelso, Steve Michels, Lauren Greenberg, Ryan Lindgren

• Lucrative F&B department featuring concepts led by Boka Restaurant Group and James Beard Award-winning chef Michael Solomonov

• Lifestyle luxury located in the heart of Williamsburg

• Generates a $300+ ADR (1.93 psf), highlighting the brand’s value and reception in the market • Significant value-add through operational upside and the introduction of an urban destination fee

• Prominent global hotel brand with signficant growth potential operating as a true boutique with an untested rate ceiling

N OTES

8

BERKADIA HOTELS & HOSPITALITY

182 KEYS

The Hoxton Chicago Fulton Market, Chicago, IL Opened: 2019 Meeting Space: 2,803 SF Management Availability: Unencumbered Contact: Ryan Lindgren, Jared Kelso, Steve Michels, Lauren Greenberg

HIGHLIGHTS • A+ location in Fulton Market, surrounded by high-profile corporate, top restaurants, and $4B+ in development • Exceptional in-place performance driven by a lean operating model and F&B concepts led by Boka Restaurant Group and James Beard-winning chefs • Undersupplied hotel submarket (696 keys) despite explosive office and multifamily development • Material value-add opportunities remain via potential additional keys and the introduction of a destination fee

N OTES

A LIS | JANUARY 28 – 30, 2025

9

250 KEYS

Luxury NYC Hotel Recapitalization New York, NY Opened: 2022 Meeting Space: 10,250 SF Brand Availability: Encumbered (Luxury Brand) Management Availability: Encumbered Contact: Steve Michels, Jared Kelso

HIGHLIGHTS • Attractive basis as construction costs for like-kind assets over $2M/key • Achieved impressive $1,000+ ADR by second year of operations • 50-story property offers Downtown views, three F&B outlets, 10,250 square feet of event space with a private terrace, a wellness spa, and a state-of-the-art fitness center • Earned Condé Nast’s “NYC’s #1 Hotel” Readers’ Choice Award • Situated amidst significant leisure demand generators such as the Empire State Building, Flatiron Building, Madison Square Park, the High Line, and high-end retailers

N OTES

10

BERKADIA HOTELS & HOSPITALITY

76

KEYS

The Chatwal, New York New York, NY

HIGHLIGHTS

Opened: 2010 Meeting Space: 600 SF Contact: Jared Kelso, Steve Michels, Steven Vazquez, Lauren Greenberg

• 76-key Hotel includes 10 premier suites ranging from 500 to 900 sf accompanied by private terraces

• Historic luxury NYC hotel centrally located in Midtown’s Theater District

• Highly accretive F&B leased income featuring the iconic NYC establishment, The Lamb’s Club, led by chef Jack Logue • Operational upside through maximum brand and management flexibility

• Significant value add opportunities upon completion of a comprehensive renovation and modernization of the hotel

N OTES

A LIS | JANUARY 28 – 30, 2025

11

100 KEYS

Z Hotel NYC Long Island City, NY

HIGHLIGHTS • Leading NYC lodging market performance

Opened/Renovated: 2011/2018 Brand Availability: Unencumbered Management Availability: Unencumbered Contact: Steve Michels, Jared Kelso, Steven Vazquez

• Extremely rare white box opportunity • Upside opportunity in management and brand implementation • Robust in-place lease income • Property boast three operating full-service F&B outlets (third-party leased) • Fee simple; non-union

N OTES

12

BERKADIA HOTELS & HOSPITALITY

170 KEYS

Residence Inn Boston Burlington Burlington, MA Opened: 2017 Meeting Space: 721 SF Brand Availability: Management Availability: Unencumbered Contact: Denny Meikleham, John Kluh

HIGHLIGHTS • Irreplaceable location nestled between the 334-bed Lahey Hospital & Medical Center and 1.3 million SF Burlington Mall • Institutional quality, purpose-built asset in exceptional physical condition • Strong in-place cashflow and well-established position as the market leader in RevPAR

N OTES

A LIS | JANUARY 28 – 30, 2025

13

93

KEYS

Hampton Inn Schenectady Downtown Schenectady, NY Opened: 2007 Meeting Space: 875 SF Brand Availability: Management Availability: Unencumbered Contact: Denny Meikleham, John Kluh

HIGHLIGHTS • Ideal downtown Schenectady location proximate to the submarket’s top demand generators • Premium branded, select-service hotel offered at a substantial discount to replacement cost • Considerable value-add opportunity upon completion of a repositioning renovation

N OTES

14

BERKADIA HOTELS & HOSPITALITY

120 KEYS

DoubleTree Schenectady Downtown Schenectady, NY Opened/Renovated:1966 / 2015 Meeting Space: 3,684 SF Brand Availability: Management Availability: Unencumbered Contact: Denny Meikleham, John Kluh

HIGHLIGHTS • Ideal downtown Schenectady location proximate to the submarket’s top demand generators • Excellent physical condition following renovation and conversion to DoubleTree by Hilton brand in 2015 • Efficient compact full-service hotel with strong in-place cashflow and top-line performance

N OTES

A LIS | JANUARY 28 – 30, 2025

15

230 KEYS

Embassy Suites Boston Marlborough Marlborough, MA Opened/Renovated: 1990 / 2019 Meeting Space: 3,020 SF Brand Availability: Management Availability: Unencumbered Contact: Denny Meikleham, John Kluh

HIGHLIGHTS • Impeccable physical condition following $19.8 million (approximately $86,000 per room) renovation in 2019 • Solidified status as the market leader with impressive top-line performance and in-place cashflow • Premium branded, compact full-service asset offered at an attractive basis

N OTES

A LIS | JANUARY 28 – 30, 2025

16

A LIS | JANUARY 28 – 30, 2025

17

671 KEYS

DEBT Town & Country Resort San Diego San Diego, CA

HIGHLIGHTS

Opened/Renovated: 1953 / 2020 Meeting Space: 295,050 SF Financing Opportunity

• Recently transformed resort: best-in-class product

Contact: Scott Hall, Aaron Lapping

• Central location with exceptional accessibility to diverse demand drivers • Robust going-in cash flow, with additional performance runway • Attractive loan basis and healthy loan metrics • Strong OTB group pace • Strategic Mission Valley location – over $8.5 Billion of investment underway • Best-in-class institutional sponsorship & management

N OTES

18

BERKADIA HOTELS & HOSPITALITY

30

KEYS

DEBT El Caminante Bar & Bungalows Capistrano Beach, CA

HIGHLIGHTS

Opened/Renovated: 1946 / 2024 Meeting Space: Financing Opportunity Contact: Scott Hall, Aaron Lapping

• Best-in-class product: a design masterpiece

• Idyllic Southern California coastal location with panoramic ocean views • Attractive stabilized loan metrics • High-barriers-to-entry coastal market • Best-in-class operator

N OTES

A LIS | JANUARY 28 – 30, 2025

19

148 KEYS

SOUTHERN CALIFORNIA PORTFOLIO NOTE SALE

The Lodge at Big Bear Lake, a Holiday Inn Resort Big Bear Lake, CA Opened/Renovated: 1995 / 2022 Meeting Space: 8,014 SF Brand Availability: Unencumbered Management Availability: Unencumbered Contact: Dan Hawkins, Denny Meikleham, Scott Hall, Aaron Lapping

HIGHLIGHTS • Rare opportunity to acquire a note with a clear path to ownership of a full-service hotel at a significant discount to replacement cost, comparable sales, and existing UPB • Minimal encumbrances • Collateral property yielding strong in-place cash-flow with proven historical performance • Physical value-add upside • Premier full-service hotel with high barriers to entry/minimal new supply

N OTES

20

BERKADIA HOTELS & HOSPITALITY

135 KEYS

SOUTHERN CALIFORNIA PORTFOLIO NOTE SALE

Holiday Inn West Covina West Covina, CA Opened/Renovated: 1966 / 2017 Meeting Space: 1,508 SF Brand Availability: Unencumbered Management Availability: Unencumbered Contact: Dan Hawkins, Denny Meikleham, Scott Hall, Aaron Lapping

HIGHLIGHTS • Rare opportunity to acquire a note with a clear path to ownership of a full-service hotel at a significant discount to replacement cost, comparable sales, and existing UPB • Minimal encumbrances • Collateral property yielding strong in-place cash-flow with proven historical performance • Physical value-add upside • Premier full-service hotel with high barriers to entry/minimal new supply

N OTES

A LIS | JANUARY 28 – 30, 2025

21

87

KEYS

Residence Inn Vancouver Portland Vancouver, WA Opened: 2019 Meeting Space: 470 SF Brand Availability: Encumbered Management Availability: Unencumbered Contact: Scott Hall, Aaron Lapping, Dan Hawkins

HIGHLIGHTS • Recently constructed and purpose-built Residence Inn offering significant long-term value • Proximate to a growing mix of robust demand generators and retail amenities • Excellent accessibility - interstates 5 and 205, and Portland International Airport • $2.15 Billion Portland Iinternational Airport improvement program

N OTES

22

BERKADIA HOTELS & HOSPITALITY

150 KEYS

Holiday Inn Erie Erie, PA

HIGHLIGHTS

Opened: 2021 Meeting Space: 1,200 SF Brand Availability: Encumbered Management Availability: Unencumbered Contact: Dan Hawkins, Steven Vazquez, Jake Pietras

• Newly-built, compact full-service hotel with outstanding in-place cash-flow, highly efficient operating margins, and attainable top-line upside • Newest hotel in the submarket paired with an ideal supply story • Clean offering with fee simple ownership, non-union labor, and unencumbered of management • Diversified lodging market driven by significant leisure demand

N OTES

A LIS | JANUARY 28 – 30, 2025

23

315 KEYS

Marriott Baltimore Washington International Airport Linthicum Heights, MD

HIGHLIGHTS

Opened/Renovated: 1988 / 2019 Meeting Space: 15,662 SF Brand Availability: Encumbered Management Availability: Encumbered Contact: Dan Hawkins, Kyle Stevenson, Jake Pietras

• Fully recovered RevPAR offering robust in-place revenues, paired with outstanding post-renovation upside

• Premier full-service hotel built with concrete and steel construction offered at a significant discount to replacement cost

• Considerable in-place cash-flow with an attainable opportunity for enhanced operational efficiencies • Significant increase in 2025 per diem rates with access to considerable government demand • Minimal new and recently delivered competitive supply

N OTES

24

BERKADIA HOTELS & HOSPITALITY

248 KEYS

Hotel Silver Spring Silver Spring, MD

HIGHLIGHTS

Opened/Renovated: 1968 / 2016 Meeting Space: 20,000 SF Brand Availability: Unencumbered Management Availability: Unencumbered Contact: Dan Hawkins

• 13-story high rise hotel built with premium concrete and steel construction offered at a highly attractive basis in an accretive Opportunity Zone • Fee simple, non-union lodging asset offered unencumbered of management and with branding optionality • Alternative use optionality and the ability to convert to a multifamily asset • Silver Spring’s premier conference venue

• Minimal new supply

N OTES

A LIS | JANUARY 28 – 30, 2025

25

225 KEYS

Embassy Suites Crabtree Raleigh, NC

HIGHLIGHTS

Opened/Renovated: 1988/2017 Meeting Space: 8,220 SF Brand Availability: Encumbered (Embassy Suites) Management Availability: Unencumbered Contact: Jared Kelso, Steve Michels, Steven Vazquez

• All-suite product with category killer Embassy Suites branding

• Well maintained Asset with over $16MM or $70k per of CapEx since 2016

• Significant PIP Upside • $150+ RevPAR at both the Property and the comp set • Located across from Crabtree Mall and adjacent to North Hills, the most desirable submarket in Raleigh

N OTES

26

BERKADIA HOTELS & HOSPITALITY

125 KEYS

Courtyard Harrisonburg Harrisonburg, VA Opened/Renovated: 1999 / 2020 Meeting Space: 1,100 SF Brand Availability: Encumbered Management Availability: Unencumbered Contact: Dan Hawkins, Kyle Stevenson, Jake Pietras

HIGHLIGHTS • Recently renovated (2020) select-service hotel with a fee simple/non-union tenure offered at an attractive basis far-below replacement cost • Strong in-place top-line performance with considerable market capture upside following completion of a renovation via a Change of Ownership PIP • Considerable realized cash-flow with efficient margins and operator optionality (offered unencumbered of management) • Attractive in-place debt yield with fixed-rate financing optionality • Long-term FLA (15 years) available with a category dominant brand and industry-leading loyalty program – Marriott Bonvoy (+203MM global members)

N OTES

A LIS | JANUARY 28 – 30, 2025

27

175 KEYS

Courtyard Bristol Bristol, VA Opened/Renovated: 2004 / 2020 Meeting Space: 600 SF Brand Availability: Encumbered Management Availability: Unencumbered Contact: Dan Hawkins, Kyle Stevenson, Jake Pietras

HIGHLIGHTS • Recently renovated (2020) select-service hotel with a fee simple/non-union tenure offered at an attractive basis well-below replacement cost • Substantial in-place revenue generation with considerable Revenue/RPI upside following completion of a renovation via a Change of Ownership PIP • Strong realized cash-flow with highly efficient margins and operator optionality (offered u nencumbered of management) • Attractive in-place debt yield with fixed-rate financing optionality • Long-term FLA (15 years) available with a category dominant brand and industry-leading loyalty program – Marriott Bonvoy (+203MM global members) • Favorable supply story with no hotels under construction (there is however a 160-room Home2/Tru in planning approximately 0.6 miles from the subject)

N OTES

A LIS | JANUARY 28 – 30, 2025

28

209 KEYS

Former DoubleTree Atlanta North Druid Hills Emory Area Atlanta, GA Opened: 1970 Meeting Space: 2,933 SF Brand Availability: Unencumbered Management Availability: Unencumbered Contact: Kyle Stevenson, Larissa Isenberg

HIGHLIGHTS • Value-Add Opportunity - only achieving a 65% RevPAR Index • Desirable Buckhead Submarket - Near Arthur M Black Hospital, Emory University, the CDC, and Oglethorpe University • Booming business nearby - the submarket has 23 million square feet of office space • Most of midtown can be reached within a 10 -16 minute drive • Possible multifamily conversion opportunity

N OTES

A LIS | JANUARY 28 – 30, 2025

29

196 KEYS

Q&C Hotel New Orleans, LA

HIGHLIGHTS

Opened/Renovated: 1996/2017 Meeting Space: 766 SF Brand Availability: Encumbered (Marriott International) Management Availability: Unencumbered (Encore Hospitality) Contact: Steve Michels, Jared Kelso, Steven Vazquez

• High-quality hospitality asset in downtown New Orleans, near key demand drivers

• Favorable transaction below seller’s all-in basis

• Significant operational upside in rooms, F&B, and meeting spaces • Strong performance ramp with opportunity to increase ADR • $557M convention center renovation enhancing New Orleans as a top convention destination

N OTES

30

BERKADIA HOTELS & HOSPITALITY

345 KEYS

PREMIUM-BRANDED HOTEL PORTFOLIO | FL AND OH FOUR-PACK

Holiday Inn & Candlewood Suites Cleveland South - Independence (Dual-Brand) Independence, OH

HIGHLIGHTS

Opened: 1974 (HI) / 2020 (CWS) Meeting Space: 21,185 SF Brand Availability: Encumbered Management Availability: Unencumbered Contact: Dan Hawkins, Natalie Castillo, Jake Pietras, Kyle Sahlsten

• Robust cash flow with significant management value-add upside

• Recently renovated dual-brand (full-service/ extended stay) hotel with strong top-line performance and attainable growth potential

• Highly attractive pricing offered well-below replacement cost with considerable in-place yield (11%) • IHG-affiliated hotel in a rapidly growing and attractive Ohio submarket

N OTES

A LIS | JANUARY 28 – 30, 2025

31

108 KEYS

PREMIUM-BRANDED HOTEL PORTFOLIO | FL AND OH FOUR-PACK

Holiday Inn Express North Palm Beach Oceanview Juno Beach, FL Opened/Renovated: 1961 / 2024 Meeting Space: None Brand Availability: Encumbered Management Availability: Unencumbered Contact: Dan Hawkins, Natalie Castillo, Jake Pietras, Kyle Sahlsten

HIGHLIGHTS • Considerable in-place cash-flow with demonstrated performance history • Compelling immediate and long-term value add opportunities • Newly renovated hotel offered at a significant discount to replacement cost (only 36 rooms need to be renovated) • Fee simple/non-union hotel in a highly-coveted coastal Florida market

N OTES

32

BERKADIA HOTELS & HOSPITALITY

100 KEYS

PREMIUM-BRANDED HOTEL PORTFOLIO | FL AND OH FOUR-PACK

SpringHill Suites Fort Myers Estero Estero, FL

HIGHLIGHTS

Opened: 2019 Meeting Space: 330 SF Brand Availability: Encumbered Management Availability: Unencumbered Contact: Dan Hawkins, Natalie Castillo, Jake Pietras, Kyle Sahlsten

• Strong immediate and long-term value add opportunities

• Strong in-place cash-flow with demonstrated performance history

• Recently delivered Marriott-branded asset offered at a significant discount to replacement cost • Fee simple/non-union hotel in prime Florida market

N OTES

A LIS | JANUARY 28 – 30, 2025

33

233 KEYS

Florida Hampton Inn Portfolio Tampa, FL / Cape Coral, FL / Ormond Beach, FL

HIGHLIGHTS

Opened: 2005(Tampa); 2006 (Cape Coral); 1998 (Ormond Beach) Meeting Space: N/A Brand Availability: Encumbered Management Availability: Unencumbered Contact: Michael Weinberg, Kyle Sahlsten

• Strategically located along I-4, I-75, and I-95, these Hotels drive consistent demand from major thoroughfares in anchor leisure and entertainment destinations

• Three of the top fifteen “Fastest-Growing Places in the U.S.” per U.S. News & World Report

• Recently renovated in 2023 with light change of ownership PIPs • Desirable Hampton Inn flags with the opportunity to establish immediate scale in Florida • Historically durable revenue and strong RevPAR index with upside in margins

N OTES

34

BERKADIA HOTELS & HOSPITALITY

128 KEYS

La Quinta Inn & Suties Orlando Airport West Orlando, FL

HIGHLIGHTS

Opened: 1987 Meeting Space: N/A Brand Availability: Encumbered through 2038 Management Availability: Unencumbered

• Financial Performance: Generates over $3 million in revenue annually and has an attractive in-place cash flow

Contact: Natalie Castillo, Kyle Sahlsten

• Property Location: Less than 1 mile from Orlando International Airport and directly on a I-528 (major Orlando artery)

• Property Condition: Features renovated rooms with a corporate PIP not due until 2026 ($7,500/key) • Tremendous Buyer Upside: Property refresh and improved operations could drive 38-42% bottom-line growth per industry standards • Additional Revenue Opportunities: A 0.8-acre site with a successful restaurant offers potential to increase NNN rent in 2026, sell, or redevelop

N OTES

A LIS | JANUARY 28 – 30, 2025

35

139 KEYS

Fairfield Inn Orlando Airport Orlando, FL Opened/Renovated: 1998/2016 Meeting Space: 888 SF Brand Availability: Encumbered Management Availability: Unencumbered Contact: Kyle Stevenson, Harry Mancera

HIGHLIGHTS • Prime location just minutes from Orlando international Airport, a gateway for 57.7 Million annual passengers • Top performer in a competitive market with strong revenue metrics • Top performer in a competitive market with strong revenue metrics • Located In The Leevista Center, a thriving mixed-use corporate business hub

N OTES

36

BERKADIA HOTELS & HOSPITALITY

170 KEYS

Fairfield Inn & Suites Lake Buena Vista Lake Buena Vista, FL

HIGHLIGHTS

Opened/Renovated: 1998/2018 Meeting Space: 400 SF Brand Availability: Encumbered Management Availability: Unencumbered

• Near the Orange County Convention Center, the 2nd largest convention center in the U.S.

Contact: Kyle Stevenson, Harry Mancera

• Proximity to world-class attractions and the epicenter of Orlando’s tourism industry

• Leading the competitive set in RevPAR growth and penetration gains • Walking distance to Disney Springs and premier entertainment venues

N OTES

A LIS | JANUARY 28 – 30, 2025

37

201

299

LS

HB

KEYS

KEYS

Costa Rica Marriott Portfolio:

HIGHLIGHTS

San Jose, Costa Rica Playa Herradura, Costa Rica

• Flexible Portfolio Offering: The two Hotels are available as a portfolio or individually

Los Sueños Marriott Ocean & Golf Resort (LS) Costa Rica Marriott Hotel Hacienda Belen (HB)

Opened: LS (1999) / HB (1996) Meeting Space: LS (14,694 SF) / HB (15,134 SF) Brand Availability: Encumbered Management Availability: Encumbered Contact: Christian Charre, Paul Weimer, Fernando Garcia-Chacon, Jennifer Jin

• Infrastructure Modernization: Major investments in airports, roads, and ports have improved connectivity and efficiency, supporting tourism and economic growth

N OTES

38

• Robust Tourism Growth: Costa Rica’s tourism sector contributed 8.2% to GDP in 2024, with record-breaking international arrivals and strong visitor engagement

• Favorable Investment Environment: The country offers political stability, property ownership laws that grant non-citizens the same rights as citizens, and tax incentives for foreigner investors

• Significant Capital Improvements: Both Hotels have undergone extensive renovations over the past five years, enhancing guestrooms, meeting spaces, and F&B outlets

• Optimal Branding: The flagship Marriott branded Resorts benefit from the best-in-class loyalty program

• Strong Cash Flow: Combined YE 2024 results exceeded $63M in revenue and $14M in NOI

BERKADIA HOTELS & HOSPITALITY

399 KEYS

Mangrove Beach

384 KEYS The Rif

Corendon Curacao All-Inclusive Resort Portfolio: HIGHLIGHTS

Mangrove Beach Corendon Curacao All-Inclusive Resort • Excellent Location: The Resorts offer (Mangrove Beach) a tranquil beachfront setting near cultural The Rif at Mangrove Beach Corendon Curacao All-Inclusive landmarks and transportation hubs, outside Resort (The Rif) the hurricane belt

Willemstad, Curacao

Opened: Mangrove Beach (2020) / The Rif (2023) Meeting Space: 8,252 SF Brand Availability: Encumbered Management Availability: Unencumbered Contact: Christian Charre, Paul Weimer, Fernando Garcia-Chacon, Jennifer Jin

• Purpose-Built Resorts: Opened in 2020 and 2023, these Properties are the newest resorts on the island • Economies of Scale: The Resorts achieve cost efficiencies while catering to distinct guest segments—families and adults-only • Cash Flow: The Resorts are on track to achieve $89M in revenue and $28M NOI by 2027 • Top Caribbean Lodging Market: Curaçao’s lodging market boasts the fourth highest 10-year RevPAR CAGR among top Caribbean destinations • Booming All-Inclusive Segment: The Properties benefit from Hilton’s Curio Collection affiliation and demand for premium branded experiences in the all-inclusive segment

N OTES

A LIS | JANUARY 28 – 30, 2025

39

156 KEYS

Carambola Beach Resort, St. Croix USVI St. Croix, U.S. Virgin Islands Opened/Renovated: 1986/2023 Meeting Space: 10,250 SF Brand Availability: Marriott white label (can be unencumbered) Management Availability: Unencumbered Contact: Paul Weimer, Christian Charre, Jennifer Jin

HIGHLIGHTS • Repositioning Potential: Recent renovations provide upside for further property enhancements • Flexible Branding Options: Potential to remain within the Marriott family or rebrand at a cost • Tax Incentives: Supported by local government tax benefits and opportunity zone designation • U.S. Jurisdiction: Located in a stable and secure U.S. jurisdiction

• Expansion Opportunities: Additional ROI projects include increasing room count, adding a spa, enhancing F&B, and upgrading infrastructure

• Alternative Uses: Potential for timeshare or condo-hotel development

N OTES

40

BERKADIA HOTELS & HOSPITALITY

A LIS | JANUARY 28 – 30, 2025

41

HOTELS & HOSPITALITY Andy Wimsatt

Senior Managing Director 301.202.3571 andy.wimsatt@berkadia.com

LaQuint Lockhart

Senior Director of Operations 301.202.3561 laquint.lockhart@berkadia.com

Investment Sales

Christian Charre

Jared Kelso

Steve Michels

Paul Weimer

Natalie Castillo

Scott Hall

Senior Managing Director 786.646.2585 christian.charre@berkadia.com

Senior Managing Director 917.459.5480 paul.weimer@berkadia.com

Dan Hawkins

Senior Managing Director 617.378.1174 jared.kelso@berkadia.com

Managing Director 786.646.2592 natalie.castillo@berkadia.com

Fernando Garcia-Chacon

Senior Managing Director 607.592.4020 steve.michels@berkadia.com

Managing Director 858.257.4724 scott.hall@berkadia.com

Ryan Lindgren

fernando.garcia-chacon@berkadia.com

Managing Director 312.845.1884 ryan.lindgren@berkadia.com

Denny Meikleham

Kyle Stevenson

Dave Weymer

Aaron Lapping

Steven Vazquez

Christian Overton

Jennifer Jin

Lauren Greenberg

Larissa Isenberg

John Kluh

Harry Mancera

Jake Pietras

Managing Director 240.204.5139 dan.hawkins@berkadia.com

Managing Director 617.648.4186 denny.meikleham@berkadia.com

Senior Director 858.257.4725 aaron.lapping@berkadia.com

Vice President - Production 305.266.5921 jennifer.jin@berkadia.com

Associate Director 410.562.7139 john.kluh@berkadia.com

Managing Director 786.554.6789

Managing Director 786.646.2591 kyle.stevenson@berkadia.com

Senior Director 646.432.7494 steven.vazquez@berkadia.com

Director 646.432.7495 lauren.greenberg@berkadia.com

Associate Director 404.452.1110 harry.mancera@berkadia.com

Kyle Sahlsten

Associate Director 813.574.1398 kyle.sahlsten@berkadia.com

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BERKADIA HOTELS & HOSPITALITY

Managing Director 240.204.5130 dave.weymer@berkadia.com

Senior Director 301.202.3570 christian.overton@berkadia.com

Associate Director 602.997.2793 larissa.isenberg@berkadia.com

Associate Director 410.940.9494 jake.pietras@berkadia.com

Mortgage Banking

Jared Kelso

Steve Michels

Jennifer Dakin

Scott Hall

Matt Raptosh

Mauricio Rodriguez

Michael Weinberg

Lindsey deButts

Connor Wimsatt

Senior Managing Director 617.378.1174 jared.kelso@berkadia.com

Senior Managing Director 607.592.4020 steve.michels@berkadia.com Managing Director 215.328.1318 matt.raptosh@berkadia.com

Managing Director 858.257.4724 scott.hall@berkadia.com Managing Director 321.319.1419 michael.weinberg@berkadia.com

Senior Director 240.204.5131 lindsey.debutts@berkadia.com

Managing Director 202.669.6119 jennifer.dakin@berkadia.com Managing Director 240.204.5133 mauricio.rodriguez@berkadia.com Associate Director 240.204.5138 connor.wimsatt@berkadia.com

Katelyn Reynolds

Associate Director 213.399.3390 katelyn.reynolds@berkadia.com

OFFICES Berkadia Office

Hotels & Hospitality Office

Berkadia Office Hotels & Hospitality Office

Hotels & Hospitality Offices

Boston

Chicago

DC Metro

New York

Orlando

San Diego

125 High Street Suite 1712 Boston, MA 02110

521 Fifth Avenue 16th Floor New York, NY 10175

125 S. Wacker Drive Suite 400 Chicago, IL 60606

300 South Orange Avenue Suite 1325 Orlando, FL 32801

4445 Willard Avenue Suite 1200 Chevy Chase, MD 20815

Miami

1111 Brickell Avenue Suite 1650 Miami, FL 33131

4275 Executive Square Suite 900 La Jolla, CA 92037

A LIS | JANUARY 28 – 30, 2025

43

Berkadia is proud to collaborate with global property consultancy Knight Frank to offer our clients unparalleled access to the world’s most active investors, spanning all key capital hubs to enable deeper relationships with diverse sources.

As we continue to expand our capabilities as fullservice, tech-enabled advisors dedicated to better serving the needs of our clients, this strategic alliance deeply broadens our reach, market exposure and relationships around the globe, allowing our clients to achieve their real estate goals and objectives.

The Americas 3 Territories

Canada The Caribbean | USA

232

OFFICES

9,130+ PEOPLE

Knight Frank’s 127-year legacy as the largest privately-owned capital markets platform fully complements Berkadia’s industry-leading Investment Sales, Mortgage Banking and Servicing capabilities, allowing us to deliver clients greater value and more investment opportunities.

Together, Knight Frank and Berkadia offer a combined global network comprising more than 24,500 people across 560 offices in 53 territories, spanning all key capital hubs.

Our alliance offers clients greater access to the world’s broader institutional, private, sovereign wealth and ultra-high-net-worth investor network.

Berkadia’s culture, principles and shared mission align with Knight Frank’s. From our peoplefirst, client-centric and community-focused mindset, to our integrity and shared commitment to excellence, our collective goal is to enhance people’s lives and environments. * Berkadia and Knight Frank combined statistics as of year-end 2022

44

BERKADIA HOTELS & HOSPITALITY

NEW YORK SAN FRANCISCO

Europe

17 Territories

United Kingdom 4 Territories

England | Scotland Wales | Jersey

79

Austria | Belgium | Bulgaria Czech Republic | France Germany | Greece | Hungary Ireland | Italy | The Netherlands Poland | Portugal | Romania Serbia | Spain | Switzerland

Asia Pacific

16 Territories Australia | Cambodia | China Fiji | Hong Kong | India Indonesia | Japan | Malaysia New Zealand | Philippines Singapore | South Korea Taiwan | Thailand | Vietnam

67

OFFICES

OFFICES

3,030+

1,040+

PEOPLE

PEOPLE

LONDON

BERLIN

153

PA R I S

OFFICES

10,570+ PEOPLE

SHANGHAI DUBAI MUMBAI

HONG KONG

6

OFFICES

120+

23

PEOPLE

OFFICES

600+

SINGAPORE

NAIROBI

PEOPLE

The Middle East 4 Territories

Africa

9 Territories

Bahrain | Qatar Saudi Arabia | UAE

Botswana | Kenya | Malawi Nigeria | South Africa Tanzania | Uganda Zambia | Zimbabwe

SYDNEY

A LIS | JANUARY 28 – 30, 2025

45 45

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to learn more about Berkadia Hotels & Hospitality and view current investment opportunities.

BERKADIA.COM / 800.446.2226

© 2025 Berkadia Proprietary Holding LLC. Berkadia® is a trademark of Berkadia Proprietary Holding LLC. Commercial mortgage loan banking and servicing businesses are conducted exclusively by Berkadia Commercial Mortgage LLC and Berkadia Commercial Mortgage Inc. This advertisement is not intended to solicit commercial mortgage company business in Nevada. Investment sales / real estate brokerage business is conducted exclusively

by Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Tax credit syndication business is conducted exclusively by Berkadia Affordable Tax Credit Solutions. In California, Berkadia Commercial Mortgage LLC makes or arranges loans pursuant to a California Financing license. Berkadia Commercial Mortgage Inc. under CA Real Estate Broker Lic. #01874116, and Berkadia Real Estate Advisors Inc. under CA Real Estate Broker Lic. #01931050. For state licensing details for the above entities, visit www.berkadia.com/licensing.0125AW