Investment Overview

Marcus & Millichap has been chosen to exclusively market for sale the leasehold estate of the Extended Stay America Turn-Key Repositioning Opportunity, a three-story interior corridor hotel located in north Portland. Amenities include a heated outdoor pool, fitness center, outdoor patio with seating, complimentary breakfast, guest laundry facilities, game room and EV chargers. The hotel also benefits from rooftop solar panels that help cut down on carbon footprint, making property the first hotel in Portland to utilize clean energy. The subject property, currently the Inn at the Meadows, will be delivered to the purchaser as a turn-key Extended Stay Premier property. As of July 2023, the current owner is in the process of completing the ESA PIP. The current owner will be completing all PIP items before handing the property over to the purchaser. The offering represents the opportunity to acquire a newly converted hotel in a growing market near several demand drivers. Our Pro Forma analysis assumes the subject property will gain full extended stay market share under a new experienced ownership supported by the increasing population and demand growth in the Portland market. The subject property is a leasehold estate with 44 years remaining.