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Mar 24, 2016 8:21 EST

Inland Pacific Investment Company, LLC is seeking Investors to provide capital to acquire the fee-simple interest in a 60-room extended stay hotel branded Stratford Suites

iCrowdNewswire - Mar 24, 2016

Offered By

The Company’s original roots date back to 1973 as a small opportunistic development company run by Leonard O’Byrne to develop hospitality, single family and multi family projects. Timothy O’Byrne joined the company in 1993, when he left his real estate focused law career…

About this Property

Inland Pacific Investment Company, LLC is seeking Investors to provide capital to acquire the fee-simple interest in a 60-room extended stay hotel branded Stratford Suites (the “Property”). The Property has a great location situated less than four miles from Spokane International Airport, four miles from Fairchild Airforce Base, and two miles from the Northern Quest Resort and Casino which holds year round events.

Inland Pacific Investment Company, LLC is offering above market favorable investor thresholds to include a 10% preferred return on the capital account which can only be reduced thru a liquidity event, return of initial invested capital, sale or cash-out refinancing of the Property and a 70/30 split thereafter. This is unlike a typical structure that would contemplate a reduction in the capital account for any distributions above and beyond the preferred return thereby reducing the cash amount of preferred return to the Investor. A minimum equity contribution in the amount of Ten Thousand Dollars ($10,000) is required to invest in the investor entity formed to acquire this Property. The Property is expected to achieve strong cash flow from day 1 with a hold period of 3-6 years or a return of capital during that period through a cash-out refinance.

Key Points

  • 10% Preferred Return
  • No Refinance needed to achieve projected returns, although a strategy would be considered to bolster returns even higher
  • No Renovation needed to achieve strong in place cash flow
  • Targeted 19% investor cash on cash based on modest average industry growth and tied to strong historical performance
  • Strong Sponsor Personal Guaranty on first mortgage is estimated to bring in 4.15% interest rate

Location Details

Spokane, WA

Stratford Suites is located less than 8 miles from the center of Spokane, 4 miles from Spokane International Airport, 4 miles from Fairchild Air Force Base, and 2 miles from the Northern Quest Resort & Casino. The Casino holds events year-round and has 55,000 square feet of gaming space, with over 1,500 slot machines, 37 table games, 9 poker tables, a keno parlor and a race book which is a great strategic partner for the hotel in accommodating overflow room nights. In 2015, Spokane finished a $41,000,000 / 90,000 square-foot expansion of the large convention center which has been driving additional room nights to the asset.

 

Contact Information:

Inland Pacific Investment Company, LLC

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