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349 KEYS THREE STAR FULL SERVICE HOTEL IN NEWARK NJ



MAJOR HOTELS OFF THE MARKET AT OR NEAR MAJOR AIRPORTS ARE SUPER HARD TO FIND FOR SALE....THIS 349 KEY OFF THE MARKET WYNDHAM HOTEL IN NEW JERSEY IS READY FOR ITS NEW BUYER


Here is the Wyndham Hotel just about a mile or 2 from the Newark Liberty International Airport in Newark, New Jersey. I have the franchise agreement and a lot of formal due diligence information. I have received a treasure trove of the seller's proprietary information and documentation from the seller's attorney to provide the direct buyer and their counsel to preview the formal financials for vetted buyers only. Please respect that as I am providing right now the T12s ending in September 2018 along with the franchise agreement, the retail lease information, the PiP's, the STR report, the appraisal and every other piece of information and documentation that a financially qualified buyer will need to get into contract. I did not have to go back to the seller or the seller's attorney to retrieve this vital information and documentation nor do I need their permission to distribute them to the qualified individuals. 

Asking Price: $36,500,000 Firm

As you will see that this is being sold under appraisal ($41MM). At the very firm purchase price of $36,500,000. The cap rate based on the enclosed T-12s and the $36.5MM purchase price (with the seller paying the real estate commissions) is in the high 6s.


THIS HOTEL IS A MILE OR SO FROM THE NEWARK AIRPORT, LOTS OF KEYS & AN NOI OVER $2.5MM, READY FOR SALE PURCHASE PRICE IS FIRM PER THE SELLER AT $36.5MM (SELLER TO PAY THE 3% R.E. COMMISSION AT THIS PRICE ONLY) OR

SHOULD THE EXECUTED PURCHASE PRICE BE BELOW $36.5MM, THE BUYER TO PAY THE 3% COMMISSION (TO THE BUYER CHOOSE TO MOVE FORWARD, PLEASE FOLLOW THE PROTOCOL BELOW) THIS WYNDHAM HOTEL, 1.1 MILES FROM THE NEWARK LIBERTY INTERNATIONAL AIRPORT. LOCATED AT 500 U.S. HIGHWAY 1&9 NEWARK, NJ 07114

I HAVE A FULL DUE DILIGENCE PACKAGE IN MY FILES

THIS THREE STAR HOTEL HAS 349 KEYS, IS A FULL SERVICE HOTEL WITH FOOD AND BEVERAGE

THE NET OPERATING INCOME AS REPORTED BY THE SELLER IS APPROXIMATELY $2,500,000.


THE CAP RATE IS ABOUT 6.9% MESSAGE TO THE BUYER: ALL OF THE GENERAL INFORMATION FROM THIS SELLER IN THIS OFFERING MEMORANDUM IS PRELIMINARY. THE SELLER WILL PROVE THIS INITIAL INFORMATION AND MAKE AVAILABLE ALL OF THE FORMAL INFORMATION AND DOCUMENTATION TO THE BUYER IN THE FORMAL DUE DILIGENCE PERIOD LAGUARDIA IS 22.9 MILES AWAY AND J.F.K. INTERNATIONAL AIRPORT IS JUST 30.8 MILES AWAY

THE HOTEL WAS BUILT IN 1969 AND TOTALLY RENOVATED IN 2008 THIS EXCEPTIONAL HOTEL, BOTH FINANCIALLY STRONG AS WELL AS PHYSICALLY STRONG

THIS 349 KEY HOTEL IS SITUATED ON 4.13 ACRES THE HOTEL'S STATS SHOW THE OCCUPANCY RATE IS 72.1%, THE ADR IS $89 THIS CURRENT FRANCHISE AGREEMENT COMMENCED ON 12/20/2013 , HAS A 15 YEAR TERM WITH AN EXPIRATION DATE OF 12/20/2028 HUGE POSITIVE FOR THE INCOMING BUYER IS THAT THE FRANCHISE AGREEMENT HAS A CANCELLATION DATE OF 12/13/2020, NO PRE-PAYMENT PENALTY THE BUYER OR THE NEW FRANCHISEE TO PROVIDE THEIR OWN DAY TO DAY OPERATIONAL MANAGEMENT, NOT THE FRANCHISOR

THIS IS OFF THE MARKET, MUST STAY OFF THE MARKET, PLEASE DO NOT LET THIS GO VIRAL HERE ARE THE FINANCIALS, PIPs, FRANCHISE AGREEMENT & A WHOLE LOT MORE https://m.box.com/shared_item/https%3A%2F%2Ftheasiadeskcre.box.com%2Fs%2Fspjh1qcdo28jf5buvq6eq5384e0cyu91 DEAR BUYER, THIS IS A PRE-DUE DILIGENCE PACKAGE AND NOT A FORMAL DUE DILIGENCE PACKAGE. ONCE THE BUYER AND SELLER EXECUTE THE PURCHASE AND SALE AGREEMENT AND THE BUYER OPENS UP THE CONTRACTED ESCROW TRUST ACCOUNT WITH THEIR CONTRACTED EARNEST MONEY DEPOSIT, THE SELLER WILL THEN PROVIDE THE BUYER WITH ALL OF THE P&Ls, ANY AND ALL OTHER FINANCIAL DOCUMENTS THAT PERTAIN TO THIS TRANSACTION PLUS THE FRANCHISE AGREEMENT. THIS WILL BE AVAILABLE IN THE FORMAL DUE DILIGENCE PERIOD. TO MOVE FORWARD, THE BUYER AND OR THE SELLER TO SIGN THE ASSET SPECIFIC MASTER FEE AGREEMENT, THE BUYER TO PROVIDE A BUYER SIGNED LETTER OF INTENT TO INCLUDE THE PURCHASE PRICE, DUE DILIGENCE PERIOD, CLOSE OF ESCROW DATE AND THE AMOUNT OF EARNEST MONEY THAT THE BUYER WILL ESCROW ONCE THE BUYER AND THE SELLER EXECUTED THE PURCHASE AND SALE AGREEMENT. THE BUYER TO PROVIDE A BUYER'S COMMERCIAL INVESTMENT IO OF HOSPITALITY ASSET AND AS WELL AS COMMERCIAL ASSET IN THE BUYER'S INVESTMENT PORTFOLIO. THE BUYER TO PROVIDE A VERIFIABLE PROOF OF FUNDS (ATTORNEY TO ATTORNEY SHOULD THE BUYER CHOOSE TO).


PLEASE NO TRANSACTIONAL FUNDING.
























TB

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