Hampton Inn Pittsburgh University/Medical Center _Property for Sale

3315 Hamlet Pl, Pittsburgh, PA, 15213-4235, US

Hampton Inn Pittsburgh University/Medical Center

Asset description

JLL’s Hotels & Hospitality Group, as sole and exclusive agent for the owner, has been retained to offer for sale the fee simple interest in the 132-room Hampton Inn Pittsburgh University / Medical Center (the “Hotel” or “Property”). The Hotel is located less than a mile from the University of Pittsburgh and many of UPMC’s largest medical centers. The University of Pittsburgh is home to over 30,000 students and brings tens of thousands of visitors to the city each year for sporting events, prospective student tours and more. Furthermore, the University of Pittsburgh Medical Center (UPMC) is Pittsburgh’s largest medical system serving nearly ten million individuals annually across 40 hospital locations. Furthermore, the hotel is a short distance to popular neighborhoods like Oakland, Squirrel Hill, and Shadyside and other schools: Carnegie Mellon, Duquesne and Carlow University.

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Attributes

Keys

132

Building area gross

56,904 sf

Year built

2000

Media

Investment highlights

Unencumbered by Management and Debt

The Property presents an opportunity for an investor to purchase an institutionally owned

and managed hotel, fully unencumbered of management and debt.

Offered at a Discount in High Barriers to Entry Market

The acquisition of the Hotel represents an opportunity for investors to acquire a concrete constructed, upper-midscale Hotel at pricing below replacement cost.

In-Place Cash Flow with Additional Upside

The Property maintains over $1.3 million in NOI, which translates to over 30% of total

revenues.