Investment Overview

The Courtyard Farmington is an upscale hotel featuring 125 spacious guest rooms and several amenities such as an indoor pool and hot tub, bistro, fitness center, business center meeting space, outdoor courtyard, sundry shop and 5,060 square feet of conference center space. The Property is a four-story interior corridor hotel, recently renovated in 2023, and is located in Farmington, New Mexico, less than five miles from Four Corners Regional Airport. The Property was shut down for renovations from April 2022 through February 2023. Farmington, New Mexico, is the principal city in the Farmington Metropolitan Statistical Area (MSA), covering all of San Juan County. With a population of approximately 120,000, this MSA serves as a key economic hub for the Four Corners region, where New Mexico, Arizona, Utah, and Colorado converge. The economy is primarily driven by the energy sector, including oil, natural gas, and coal, alongside agriculture, healthcare, and retail. Farmington’s strategic location and access to major highways like U.S. Route 550 and U.S. Route 64 provide direct connections to Albuquerque and the surrounding Four Corners area. Farmington is approximately 180 miles from Albuquerque, 160 miles from Durango, Colorado, and 200 miles from Flagstaff, Arizona. It is also just 30 miles from the Arizona border and about 50 miles from the Utah border, making it a convenient gateway for exploring nearby states. Notable employers in the area include Raytheon's Dine Facility, which employs over 350 staff, and PESCO, just 5.4 miles away, providing essential equipment and services to the booming on-shore oil and natural gas industries with a workforce of more than 290. Hilcorp Energy Company, the largest operator in the basin, is located a mere 8.8 miles from the city, while Enterprise Products, only 2.5 miles away, plays a crucial role in transporting and processing energy. Additionally, the Navajo Agricultural Products Industry, one of the largest irrigated farms in the U.S., is situated just 7.7 miles from Farmington, further enhancing the area's economic landscape. The presence of key employers like the Four Corners Power Plant, with over 300 employees just 19.7 miles away, underscores the region’s economic stability. The Property is visible from U.S 64 and situated near some of New Mexico’s best areas for outdoor recreation and tourism. The Northern Edge Navajo Casino, located 4.5 miles away, features over 750 slot machines and table games, providing entertainment for visitors. The region is also home to the Aztec Ruins National Monument (13.6) and the Navajo Lake State Park (38.1 miles), which may attract those interested in cultural and outdoor experiences. Golf enthusiasts often visit the Pinon Hills Golf Course, recognized as a top municipal course by Golf Digest, just 3.7 miles from the city. Additionally, events like the Connie Mack World Series, attracts around 10,000 to 15,000 attendees throughout the tournament and is a highlight of the local summer sports calendar, drawing fans and families, and often includes festivities that celebrate baseball culture, occurring 0.9 miles away, contribute to local activity. The San Juan Regional Medical Center, just 1.7 miles away, has 197 beds and is also one of the larger employers within San Juan County. Additionally, the New Mexico State University Agricultural Science Center (9.2 miles) draws students, researchers, and agricultural professionals to the area, while San Juan College, only 4.0 miles away, boasts an enrollment of approximately 4,000 students. Courtyard by Marriott is a hotel brand focused on providing comfort and productivity for business and leisure travelers. Featuring spacious guest rooms with ergonomic workspaces and complimentary Wi-Fi, the brand emphasizes convenience with amenities like on-site dining, fitness centers, and business facilities. Many locations also offer outdoor spaces and meeting rooms, catering to corporate events and casual gatherings. The Property is Fee Simple Real Estate and clear of existing management and financing contracts.