OFFERING MEMORANDUM

HAWTHORN SUITES BY WYNDHAM FORT WAYNE 4919 Lima Rd • Fort Wayne, IN 46808

1 NON-ENDORSEMENT AND DISCLAIMER NOTICE

Confidentiality and Disclaimer The information contained in the following Marketing Brochure is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from Marcus & Millichap and should not be made available to any other person or entity without the written consent of Marcus & Millichap. This Marketing Brochure has been prepared to provide summary, unverified information to prospective purchasers, and to establish only a preliminary level of interest in the subject property. The information contained herein is not a substitute for a thorough due diligence investigation. Marcus & Millichap has not made any investigation, and makes no warranty or representation, with respect to the income or expenses for the subject property, the future projected financial performance of the property, the size and square footage of the property and improvements, the presence or absence of contaminating substances, PCB's or asbestos, the compliance with State and Federal regulations, the physical condition of the improvements thereon, or the financial condition or business prospects of any tenant, or any tenant's plans or intentions to continue its occupancy of the subject property. The information contained in this Marketing Brochure has been obtained from sources we believe to be reliable; however, Marcus & Millichap has not verified, and will not verify, any of the information contained herein, nor has Marcus & Millichap conducted any investigation regarding these matters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided. All potential buyers must take appropriate measures to verify all of the information set forth herein. Marcus & Millichap is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2018 Marcus & Millichap. All rights reserved.

Non-Endorsement Notice Marcus & Millichap is not affiliated with, sponsored by, or endorsed by any commercial tenant or lessee identified in this marketing package. The presence of any corporation's logo or name is not intended to indicate or imply affiliation with, or sponsorship or endorsement by, said corporation of Marcus & Millichap, its affiliates or subsidiaries, or any agent, product, service, or commercial listing of Marcus & Millichap, and is solely included for the purpose of providing tenant lessee information about this listing to prospective customers.

ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY. PLEASE CONSULT YOUR MARCUS & MILLICHAP AGENT FOR MORE DETAILS.

HAWTHORN SUITES BY WYNDHAM FORT WAYNE Fort Wayne, IN ACT ID ZAA0290221

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TABLE OF CONTENTS

SECTION

INVESTMENT OVERVIEW 01 Offering Summary Regional Map Local Map Aerial Photo

FINANCIAL ANALYSIS 02 STR Historical P&L 5 Year Pro Forma 5 Year Return Acquisition Financing

MARKET COMPETITORS 03 Competitive Set Performance Competitor Data

MARKET OVERVIEW 04 Market Analysis

Demographic Analysis

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INVESTMENT OVERVIEW

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OFFERING SUMMARY EXECUTIVE SUMMARY

VITAL DATA

CURRENT YEAR 1 MAJOR EMPLOYERS

Price $5,000,000 CAP Rate 11.84% 12.13% EMPLOYER # OF EMPLOYEES PIP $0 Net Operating Income $591,945 $606,424 Parkview Research Center 4,500 Down Payment 20.8% / $1,040,000 Net Cash Flow After Debt Service 27.18% / $282,680 28.57% / $297,159 Fort Wayne 3,105 Loan Amount $4,000,000 Total Return 34.03% / $353,882 35.42% / $368,361 Raytheon 2,300 Allied Domestic Forwarding LLC 1,938 Loan Type Proposed New Controller Civil Cy Accounting 1,700 Interest Rate / Amortization 6.00% / 25 Years LEONA GROUP ARIZONA 1,477 Price/Room $62,500 Alpha Rae Personnel Inc 1,350

Ownership Type Fee Simple Fort Wayne Community Schools 1,342 Sweetwater 1,200 Number of Rooms 80 US Post Office 1,068 Rentable Square Feet 50,370 Walmart 815

Number of Buildings 1 Ivy Tech Northeast 776

Number of Stories 2

Year Built 1985 DEMOGRAPHICS

Lot Size 3.05 acre(s)

1-Miles 3-Miles 5-Miles 2018 Estimate Pop 3,008 63,558 152,889 2010 Census Pop 2,983 61,519 146,883 2018 Estimate HH 1,196 26,266 62,317 2010 Census HH 1,180 25,277 59,593 Median HH Income $43,195 $41,693 $43,629 Per Capita Income $19,484 $21,497 $23,782 Average HH Income $47,646 $51,254 $57,434

#5 HAWTHORN SUITES BY WYNDHAM FORT WAYNE

OFFERING SUMMARY INVESTMENT OVERVIEW

This investment continues to show consistency amongst the various important operating measures for Hospitality Products.

With past ADR in the low $80’s and Occupancy above 70%, current ownership has experienced steady returns throughout holding of this asset. The purchaser has the ability to take advantage of a stabilized asset that has upward potential after modest renovations. Taking advantage of numerous demand generators, local events, and aggressive marketing strategies can slightly increase the Average Daily Rate to $85.57 in Year 5 growing roughly .25% Year on Year.

Current Penetration indicates the Hawthorn outperforming the current market in Occupancy at MPI of 118% in 2017 & 119% in 2018. The ADR Market Penetration Index shows 100% penetration in 2018.

Current Revenue in 2018 is $1,886,651 with an NOI of $644,975 (34.2%)

INVESTMENT HIGHLIGHTS

. 11.85% Cap Rate . Property is sold unencumbered by debt & management . Attractive ADR, Occupancy, & RevPAR Values

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OFFERING SUMMARY PROPERTY OVERVIEW

This property is located just off Highway 27 and close to I-96, strategically targeting both the avid business traveler as well as leisure clientele.

Offering a unique 80 Room, 2 Story Exterior Corridor layout including Sport Courts, Outdoor Pool, access to nearby Fitness Center, Business Center, Guest Laundry, Truck & RV Parking, and suites that feature complete kitchenettes, living rooms, and spacious bedrooms.

Fort Wayne is the second largest city in the state of Indiana, and the hub of Northeast Common Area Amenities Indiana. Local attractions include various Sports Complexes, Franke Park, and Fort Wayne Children’s Zoo. . Pool - Outdoor . Laundry Services . Daily Housekeeping Home to Indiana University FW, Purdue University FW, & Ivy Tech Community College . Business Center . BBQ Grill

Guest Room Amenities

. Kitchens Available . Coffee/Tea Maker . Safe Deposit Box . Flat Screen Televisions . Free Breakfast Buffet

#7 HAWTHORN SUITES BY WYNDHAM FORT WAYNE

OFFERING SUMMARY PROPERTY SUMMARY

PROPOSED FINANCING FIRST TRUST DEED THE OFFERING Loan Amount $4,000,000 Loan Type Proposed New Interest Rate 6.00% Property Hawthorn Suites by Wyndham Fort Wayne Amortization 25 Years Loan Term 25 Years Loan to Value 80% Debt Coverage Ratio 1.91 Price $5,000,000 SECOND TRUST DEED Loan Type All Cash

Property Address 4919 Lima Rd, Fort Wayne, IN

Assessors Parcel 02-07-22-427-005.000-073 Number

SITE DESCRIPTION

Number of Rooms 80

Year Built/Renovated 1985

Ownership Type Fee Simple

Lot Size 3.05 acre(s)

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REGIONAL MAP

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LOCAL MAP

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AERIAL PHOTO

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PROPERTY PHOTO

Marcus & Millichap closes more transactions than any other brokerage firm.

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PROPERTY PHOTO

Marcus & Millichap closes more transactions than any other brokerage firm.

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FINANCIAL ANALYSIS

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FINANCIAL ANALYSIS STR

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FINANCIAL ANALYSIS HISTORICAL P&L

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FINANCIAL ANALYSIS HISTORICAL P&L

2019 / ‘Current’ Values are January 2019 TTM Figures. Expenses are based on industry average except property taxes and insurance are property specific

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FINANCIAL ANALYSIS 5 YEAR PRO FORMA

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FINANCIAL ANALYSIS 5 YEAR PRO FORMA

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ACQUISITION FINANCING

MARCUS & MILLICHAP CAPITAL CORPORATION CAPABILITIES WHY MMCC? MMCC—our fully integrated, dedicated financing arm—is committed to Optimum financing solutions to providing superior capital market expertise, precisely managed enhance value execution, and unparalleled access to capital sources providing the most competitive rates and terms. Our ability to enhance buyer pool We leverage our prominent capital market relationships with commercial by expanding finance options banks, life insurance companies, CMBS, private and public debt/equity funds, Fannie Mae, Freddie Mac and HUD to provide our clients with the Our ability to enhance greatest range of seller control financing options. • Through buyer qualification support Our dedicated, knowledgeable experts understand the challenges of financing • Our ability to manage buyers finance and work tirelessly to resolve all potential issues to the benefit of our expectations clients. • Ability to monitor and manage buyer/lender progress, insuring timely, predictable closings • By relying on a world class Closed 1,678 debt National platform $6.24 billion Access to more set of debt/equity sources and equity operating billion total capital sources financings within the firm’s national volume than any other and presenting a tightly underwritten in 2018 brokerage offices in 2018 firm in the credit file industry

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MARKET COMPETITORS

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COMPETITIVE SET MAP

HAWTHORN SUITES BY WYNDHAM FORT WAYNE (SUBJECT) /MOTEL ADDRESS NUMBEROF ROOMS OPEN DATE MILES TO SUBJECT

1 Comfort Inn Fort Wayne 1005 W Washington Center Rd Fort Wayne, IN 46825 97 0.6

2 Quality Inn Fort Wayne 1734 W Washington Center Rd Fort Wayne, IN 46818 99 0.7

3 Fort Wayne North 5810 Challenger Pkwy Fort Wayne, IN 46818 72 0.6 La Quinta Inns & Suites Fort Wayne Inn & 4 2902 E Dupont Rd Fort Wayne, IN 46825 77 4.6 Suites North Plus Fort Wayne Inn & Suites 5 5926 Cross Creek Blvd Fort Wayne, IN 46818 62 0.8 North

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PRICINGPRICING ANDAND VALUATIONVALUATIONCOMPETITORS MATRIXMATRIX COMPETITOR DATA

Comfort Inn Quality Inn Best Western Plus Inn & Suites

Candlewood Suites Extended Stay America La Quinta Inns & Suites Inn & Suites

New Competitive Supply

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COMPETITORS COMPETITIVE SET PERFORMANCE The table below summarizes the occupancy, ADR, and RevPAR for the Hawthorn Suites by Wyndham Fort Wayne and its defined competitive set for the Prior Year 3 - Prior Year 1 periods.

OCCUPANCY, ADR & RevPAR

Hawthorn Suites by Wyndham Fort Wayne

Occupancy ADR RevPAR

Year Hotel/Motel Comp Set Penet. Hotel/Motel Comp Set Penet Hotel/Motel Comp Set Penet

Prior Year 2 73.3% 61.7% 119.0% $76.15 $78.94 96.0% $55.82 $48.71 115.0%

Prior Year 1 79.6% 66.9% 119.0% $81.17 $81.20 100.0% $64.61 $54.32 119.0%

% Change 8.6% 8.4% 6.6% 2.9% 15.8% 11.5%

Source: Smith Travel Research

Occupancy Comparison ADR Comparison RevPAR Comparison

Hotel/Motel Comp Set Hotel/Motel Comp Set Hotel/Motel Comp Set

90.00% $90.00 $70.00 80.00% $80.00 $60.00 70.00% $70.00 $50.00 60.00% $60.00 50.00% $50.00 $40.00 40.00% $40.00 $30.00 30.00% $30.00 $20.00 20.00% $20.00 $10.00 10.00% $10.00 0.00% Prior Year 3 Prior Year 2 Prior Year 1 $0.00 Prior Year 3 Prior Year 2 Prior Year 1 $0.00 Prior Year 3 Prior Year 2 Prior Year 1 Hotel/MotelPrior 0.0% Year 3 Prior73.3% Year 279.6% Prior Year 1 Hotel/Motel Prior$0.00 Year 3 Prior$76.15 Year 2$81.17 Prior Year 1 Hotel/Motel Prior$0.00 Year 3 Prior$55.82 Year 2 Prior$64.61 Year 1 Comp Set 0.0% 61.7% 66.9% Comp Set $0.00 $78.94 $81.20 Comp Set $0.00 $48.71 $54.32 Index 0.0% 119.0% 119.0% Index 0.0% 96.0% 100.0% Index 0.0% 115.0% 119.0%

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STR Report

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STR Report

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STR Report

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STR Report

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STR Report

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STR Report

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MARKET OVERVIEW

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MARKET OVERVIEW FORT WAYNE OVERVIEW

The Fort Wayne metro is situated in Northeastern Indiana, roughly 125 miles northeast of Indianapolis and borders Ohio. The market consists of Allen, Wells and Whitley counties and is home to 436,000 residents, with METRO HIGHLIGHTS

261,000 people living in the city of Fort Wayne. The economy supports a THRIVING MEDICAL INDUSTRY broad range of industries, including medical devices, insurance, vehicles, Northeast Indiana has one of the highest concentrations of orthopedic jobs craftsmanship and e-commerce. globally, supported by graduates from nearby research universities. AUTOMOTIVE INDUSTRIAL BASE Multiple suppliers serving the nearby General Motors plant provide a cluster of transportation-related manufacturers.

FOOD AND BEVERAGE INDUSTRY LEADER An extensive transportation network supports numerous food packaging industries including corn, soybean and ice cream.

ECONOMY . Boosted by Lincoln Financial, the metro is home to numerous insurance companies such as Swiss Re, American Specialty, MedPro and Brotherhood Mutual. . More than 28,000 employees are in the auto industry, at companies including General Motors, Dana Light Axle, Michelin/BF Goodrich and American Sportworks. . Access to nearby major markets and the FedEx hub in Indianapolis result in BAE Systems, General Mills and Walmart all investing in logistics infrastructure near Fort Wayne International Airport. . Regional healthcare networks provide more than 10,000 jobs, primarily at Parkview Health Systems and Lutheran Health Network. DEMOGRAPHICS

2018 2018 2018 2018 MEDIAN POPULATION: HOUSEHOLDS: MEDIAN AGE: HOUSEHOLD INCOME: 436K 170K 36.6 $53,100 Growth Growth U.S. Median: U.S. Median: 2018-2023*: 2018-2023*: 3.4% 4.4% 38.0 $58,800

* Forecast Sources: Marcus & Millichap Research Services; BLS; Bureau of Economic Analysis; Experian; Fortune; Moody’s Analytics; U.S. Census Bureau

1 NORTH CENTRAL

Expanding Industries, Recreational Activities Lure Travelers and Entice Buyers

Business and leisure travelers continue to fill rooms. Each state throughout the North Central region boasted respectable gains in occupancy, RevPAR and the average daily rate. In Ohio, numerous outdoor recreational activities and the Lake Erie waterfront continue to draw leisure travelers. In Indiana and Michigan, the growing technology and automotive firms in Indianapolis and Detroit are luring business travelers, benefiting occupancy rates and driving RevPAR growth in these two states. Additionally, Detroit hosted two rounds of the NCAA Men’s Basketball Tournament this year, boding well for room demand in the metro. Bidding heats up for economy and upper midscale . Improving hotel property fundamentals spur demand for hotels in the North Central region. Sales picked up nearly 5 percent during the 12 months ending in June, with increased demand boosting average prices 20 percent to $51,500 per key. Upper midscale and economy hotels comprised about half of all transactions. The heightened demand in these segments elevated property values considerably, averaging $59,400 and $29,100 per door, respectively. . Room demand boosts occupancy rates across all three states. During the year ending in the second quarter, occupancy in the North Central region climbed 70 basis points to 61.1 percent after remaining flat in the prior annual period. Growth was led by Ohio, which posted an 80-basis-point increase in the rate during this time to 60.4 percent, erasing the 30-basis- point drops recorded in the prior two annual periods. In Michigan, occupancy jumped 70 basis points to 61.5 percent, with the rate climbing 30 basis points in Detroit to 66.7 percent. Occupancy in Indiana rose 30 basis points during the past 12 months to 61.6 percent in June. . Indiana leads regional RevPAR growth. Annual ADR advanced at a slower pace than the national rate as a minimal advance was recorded in Ohio. Regionwide, the average daily rate climbed 1.8 percent during the past four quarters ending in June to $100.45. In Ohio, the rate inched up 0.3 percent compared with the 2.3 percent and 3.6 percent increases recoded in Michigan and Indiana, respectively. Strong occupancy growth, coupled with the rise in ADR, boosted RevPAR 3.0 percent regionally during this time. The largest RevPAR gains were in Indiana. Here, the rate advanced 4.1 percent to $61.89, following a 3.7 percent lift the prior year. . Variety of hotels entice buyers. Investor demand remains for hotels across all three states in the region, and Indiana

commanded the largest gains in trades over the past four quarters ending in June. Buyers primarily targeted properties * Forecast in Indianapolis within the state, though the South Bend area also garnered increased attention. Hotels in Indiana overall The North Central region contains Indiana, Michigan and Ohio. changed hands with first-year returns between the high-6 and low-9 percent band based on property type and location. In Michigan, buyers picked up transaction velocity in Detroit, where hotels prices averaged around $71,200 per room. In Ohio, investors seeking higher returns targeted Cleveland, where cap rates as high as 11 percent were found. First-year returns in Columbus and Cincinnati averaged in the mid- to high-7 percent band.

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HOSPITALITY NATIONAL REPORT Hotel Room Demand Escalates in Smaller Metros/Towns, Fueling Occupancy And Boosting Investor Interest Rising travel predictions favor hotel sector. The accelerating economy, supported by Upper upscale and upscale hotels command buyer attention. Healthy economic growth, strong employment growth and rising confidence levels, bodes well for hotel improving occupancy and steady gains in RevPAR are driving investors’ appetite property performance. Consumer and business confidence remain at record for hotels. During the year ending in the second quarter, transaction velocity levels, reinforcing expectations of healthy consumption and business spending nationwide picked up 4 percent from last year. Increased competition for hotels this year. Elevated confidence levels will likely buoy room demand through the and rising revenues elevated property values 6.8 percent during this same time to remainder of the year, keeping occupancy at a record high and supporting $107,700 per room on average. RevPAR growth. . Trades picked up considerably in upper upscale and upscale hotel properties . Healthy economic momentum and elevated consumer confidence levels have during the past 12 months, with the number of sales rising roughly 26 percent boosted travel expectations for 2018. Summer travel, in particular, is expected and 17 percent, respectively. Properties under the Marriott and Hilton flags to rise 6 percent from last year and the majority of these trips will be to were particularly popular. Hotels in both segments changed hands with first- domestic destinations. Rising travel should reinforce hotel occupancy, which year returns in the high-7 to low-8 percent band on average. remains at a more than 30-year record high. . Rising room demand in many of the nation’s smaller markets continues to drive . Travelers are increasingly seeking hotels in suburban areas and smaller buyer interest in these areas. Properties in the Southwest and Carolinas metros/towns. Occupancy in both locations has picked up considerably in the regions were increasingly targeted during the past four quarters, with past 12 months after holding relatively steady in the prior year. Many local transactions rising 51 percent and 23 percent, respectively. In the Southwest tourism offices are working vigilantly to lure tourists to these destinations. region, demand picked up considerably throughout Arizona and New Mexico during the past 12 months. . Older millennials, particularly in their mid to late 30s, are increasingly planning family vacations, with 44 percent anticipating to take one this year. This . Higher average first-year returns continue to lure investors to the hotel market. surpasses the percentage of boomers and Generation Xers who plan to do the Properties on average trade with cap rates in the mid-8 percent band but can same. Most of these trips will be road trips, potentially supporting demand for vary by as much as 200 basis points depending on location and flag. interstate hotels.

* Through 2Q18 Source: STR, Inc. Note: Sales $2.5 million and above

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HOSPITALITY NATIONAL REPORT

New York and Dallas lead construction. Nearly 119,000 rooms were completed nationwide during the year ending in the second quarter across more than 1,000 hotels. More than 186,800 rooms are underway and an additional 221,900 rooms are expected to break ground within the next 12 months.

. The upscale and upper midscale chain scales are leading the construction pipeline with more than half of all rooms underway located within these two segments. Construction of independent hotels is picking up; more than 22,000 rooms are under construction. Nearly 8,800 rooms were completed in independent hotels during the past four quarters.

. New York City and Dallas/Fort Worth had the largest number of deliveries during the prior 12-month period. In New York, more than 6,500 rooms were completed while 5,900 rooms were placed into service in the metroplex. These two markets also contain the largest number of rooms underway.

. and led deliveries during the year ending in June. New rooms under Marriott and Hilton made up 32.5 percent and 25.6 percent of total supply, respectively.

Strong half boosts annual occupancy. Strong room demand throughout the first half of 2018 supported an 80-basis- point increase in occupancy from the same period last year. The healthy increase in the rate supported a 60- basis-point increase in annual occupancy during the past 12 months to 66.3 percent in June.

. All chain scales recorded occupancy increases during the past four quarters. Independent, luxury and midscale hotels led increases, with occupancy rates rising 80 basis points in each segment. Luxury hotels had the highest occupancy overall at 74.6 percent.

. Demand picked up considerably for resorts. Occupancy in these hotels jumped 100 basis points during the prior 12-month period to 70.1 percent in June. Occupancy in Florida, a popular state for visitors staying in resorts, surged 200 basis points during this time to 74.2 percent.

. Occupancy in smaller metros and towns picked up notably during the past four quarters. Here, occupancy advanced 90 basis points during this time to 57.6 percent following a 20-basis-point increase in the prior year.

* Forecast Sources: Marcus & Millichap Research Services; STR, Inc.

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HOSPITALITY NATIONAL REPORT

Elevated room demand supports RevPAR gains. Rising occupancy is underpinning growth in ADR and RevPAR. The average daily rate climbed 2.3 percent during the past 12 months to $128.33 while RevPAR rose 3.3 percent during this same time to $85.05. ADR and RevPAR increased 2.7 percent and 3.1 percent, respectively, in the prior year.

. Economy hotels registered the largest in the average daily rate during the past 12 months, climbing 3.0 percent to $63.02. The increase combined with a 40-basis-point boost in occupancy contributed to RevPAR edging up 3.7 percent during this time to $36.94.

. Independent, luxury and midscale hotels also logged RevPAR gains above 3.7 percent during the past 12 months as strong occupancy improvement supported growth. The highest increase was among luxury hotels. The rate grew 4.1 percent to $246.49 in this segment.

. During the year ending in June, ADR and RevPAR in suburban hotels rose at a faster pace than its urban counterparts. In the suburbs, ADR and RevPAR climbed 2.4 percent and 3.2 percent, respectively, while ADR in urban areas edged up 1.4 percent and RevPAR advanced 1.9 percent.

* Forecast Sources: Marcus & Millichap Research Services; STR, Inc.

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HOSPITALITY NATIONAL REPORT

* Based on TripAdvisor and AAA surveys in May 2018 Sources: Marcus & Millichap Research Services; AAA; STR, Inc.; TripAdvisor

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HOSPITALITY NATIONAL REPORT

** Based on AAA survey in March 2018 *** Based on annual rates ending in June Sources: Marcus & Millichap Research Services; AAA; STR, Inc.; TripAdvisor

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HOSPITALITY NATIONAL REPORT

Capital Markets Recent Marcus & Millichap Transactions By David Shillington; President of Marcus & Millichap Capital Corporation Hotel Name State Rooms

. Diverging trajectories: short-term vs. long-term rates. With two rate hikes so far in 2018, the Fed continues to Grand Rapids MI 320 push the federal funds rate upward, directly impacting short-term indices such as Prime Rate and LIBOR. Airport Crowne Plaza Jacksonville However, global economic trends and investor sentiments have pushed the long end of the rate curve FL 317 Airport higher. The spread between short-term and long-term Treasury yields has been at one of its narrowest Surfside Marina TX 281 levels in recent history. The trend is affecting hotel loans that are priced using these short-term indices, Allentown PA 253 such as adjustable rate short-term and construction loans. Conversely, the long-term, fixed-rate loans The Plaza Hotel & Suites maintain favorable pricing. Benefiting from this trend are borrowers using permanent loans offered by WI 225 Wausau banks and life companies, as well as securitized CMBS lenders. Embassy Suites Pittsburgh PA 223 . Asset allocation and lending concentration remain an issue. Many lenders who jumped back into the lending space Airport Best Western Plus CO 210 during early part of the recovery are still carrying a sizable loan portfolio on their balance sheet. While Crowne Plaza Cincinnati Blue construction and permanent loans are gradually being refinanced as they approach maturity, some banks OH 200 Ash are taking a cautious stance in increasing their exposure to the hotel sector. Inn & Suites FL 193 . Alternative lenders increasingly active. Seizing the opportunity to gain some of the market share previously Jacksonville Comfort Suites DFW North filled by commercial banks, alternative lenders are increasing their presence in the hotel lending space. TX 190 Grapevine These lenders offer a short-term, bridge program designed to help hotel owners and buyers finance Denver’s Best Inn & Suites CO 190 transitional assets. A few will also lend on ground-up construction projects. Borrowers benefit from the Florence Center SC 190 increasing capital flow from these alternative lenders and costs are being kept in check by increased The Breakers CA 178 competition. Comfort Inn & Suites NY 166 Ramada Kansas City MO 164 Embassy Suites Williamsburg VA 161 Travelodge Suites Eastgate FL 158 Miami Airport Hotel FL 150 Ramada Geneva Lakefront NY 148 Ramada South Padre Island TX 146 The Hotel Blue NM 140 Hampton Inn Pittsburgh PA 140 Orlando FL 139

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DEMOGRAPHICS Created on March 2019 MARKETING TEAM

POPULATION 1 Miles 3 Miles 5 Miles HOUSEHOLDS BY INCOME 1 Miles 3 Miles 5 Miles . 2023 Projection . 2018 Estimate Total Population 3,037 63,838 155,486 $200,000 or More 0.00% 0.78% 1.69% . 2018 Estimate $150,000 -$199,000 0.86% 1.10% 1.84% Total Population 3,008 63,558 152,889 $100,000 -$149,000 5.68% 6.68% 8.49% . 2010 Census $75,000 -$99,999 9.91% 10.14% 11.10% Total Population 2,983 61,519 146,883 $50,000 -$74,999 24.40% 21.39% 20.56% . 2000 Census $35,000 -$49,999 17.46% 18.46% 16.73% Total Population 3,763 60,132 143,390 $25,000 -$34,999 13.89% 14.76% 13.34% . Daytime Population $15,000 -$24,999 14.82% 12.85% 12.11% 2018 Estimate 18,278 96,147 203,642 Under $15,000 12.97% 13.84% 14.16% HOUSEHOLDS 1 Miles 3 Miles 5 Miles Average Household Income $47,646 $51,254 $57,434 . 2023 Projection Median Household Income $43,195 $41,693 $43,629 Total Households 1,206 26,624 64,095 Per Capita Income $19,484 $21,497 $23,782 . 2018 Estimate POPULATION PROFILE 1 Miles 3 Miles 5 Miles Total Households 1,196 26,266 62,317 . Population 25+ by Education Level Average (Mean) Household Size 2.52 2.30 2.37 2018 Estimate Population Age 25+ 1,925 40,951 98,672 . 2010 Census Elementary (0-8) 3.48% 2.83% 3.09% Total Households 1,180 25,277 59,593 Some High School (9-11) 9.07% 7.81% 7.58% . 2000 Census High School Graduate (12) 37.38% 32.68% 30.95% Total Households 1,745 25,204 58,544 Some College (13-15) 22.34% 24.14% 23.71% HOUSING UNITS 1 Miles 3 Miles 5 Miles Associate Degree Only 5.91% 9.02% 9.16% . Occupied Units Bachelors Degree Only 17.14% 15.62% 16.76% 2023 Projection 1,206 26,624 64,095 Graduate Degree 3.11% 6.36% 7.26% 2018 Estimate 1,267 28,354 68,612

Source: © 2018 Experian

40 PROPERTYHAWTHORN NAME SUITES BY WYNDHAM FORT WAYNE

MARKETINGDEMOGRAPHICS TEAM

Population Race and Ethnicity In 2018, the population in your selected geography is 3,008. The The current year racial makeup of your selected area is as follows: population has changed by -20.06% since 2000. It is estimated that 66.27% White, 8.23% Black, 0.02% Native American and 15.45% the population in your area will be 3,037.00 five years from now, which Asian/Pacific Islander. Compare these to US averages which are: represents a change of 0.96% from the current year. The current 70.20% White, 12.89% Black, 0.19% Native American and 5.59% population is 48.82% male and 51.18% female. The median age of the Asian/Pacific Islander. People of Hispanic origin are counted population in your area is 32.87, compare this to the US average independently of race. which is 37.95. The population density in your area is 955.81 people per square mile. People of Hispanic origin make up 9.22% of the current year population in your selected area. Compare this to the US average of 18.01%.

Households Housing There are currently 1,196 households in your selected geography. The The median housing value in your area was $106,825 in 2018, number of households has changed by -31.46% since 2000. It is compare this to the US average of $201,842. In 2000, there were 865 estimated that the number of households in your area will be 1,206 owner occupied housing units in your area and there were 880 renter five years from now, which represents a change of 0.84% from the occupied housing units in your area. The median rent at the time was current year. The average household size in your area is 2.52 $401. persons.

Income Employment In 2018, the median household income for your selected geography is In 2018, there are 11,412 employees in your selected area, this is also $43,195, compare this to the US average which is currently $58,754. known as the daytime population. The 2000 Census revealed that The median household income for your area has changed by 22.42% 59.50% of employees are employed in white-collar occupations in this since 2000. It is estimated that the median household income in your geography, and 41.16% are employed in blue-collar occupations. In area will be $48,154 five years from now, which represents a change 2018, unemployment in this area is 3.38%. In 2000, the average time of 11.48% from the current year. traveled to work was 19.00 minutes.

The current year per capita income in your area is $19,484, compare this to the US average, which is $32,356. The current year average household income in your area is $47,646, compare this to the US average which is $84,609.

Source: © 2018 Experian

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