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BALTIMORE INNER HARBOR BALTIMORE, MD INVESTMENT OFFERING MEMORANDUM CONFIDENTIALITY & CONDITIONS TABLE OF CONTENTS This is a confidential Investment Offering Memorandum (“Memorandum”), which is intended Investment Summary ..............................................4 solely for your limited use and benefit in determining whether you desire to express any further in- Opportunity Overview......................................................5 terest in participating in the acquisition of The Days Inn Hotel Baltimore Inner Harbor (the “Hotel” or “Property”) in Baltimore, MD. You are bound by the Confidentiality Agreement executed Investment Highlights .......................................................5 in connection with your receipt of this Memorandum. This Memorandum was prepared by HREC Property Overview..................................................8 Investment Advisors and has been reviewed by the Owner. It contains select information pertaining to the Property and does not purport to be all-inclusive or to contain all of the information, which Area Overview......................................................12 prospective investors may desire. It should be noted that all the market analysis projections are Hotel Market Review.............................................36 provided for general reference purposes and are based on assumptions relating to the general Financial Overview ...............................................41 economy, competition, and other factors beyond our control and, therefore, are subject to material variation. Additional information and an opportunity to inspect material related to the Property will be made available to interested and qualified prospective investors. Neither the Owner nor HREC Investment Advisors nor any of their respective officers have made any representation or FOR FURTHER INFORMATION warranty, expressed or implied, as to the accuracy or completeness of this Memorandum or any of its contents, and no legal commitments or obligations shall arise by reason of this Memorandum KETAN PATEL or its contents. It is essential that all parties to real estate transactions be aware of the health, lia- Managing Director bility, and economic impact of environmental factors on real estate. HREC Investment Advisors (410) 598-7595 does not conduct investigations or analyses of environmental matters and, accordingly, urges in- [email protected] terested parties to retain qualified environmental professionals to determine whether hazardous or toxic wastes or substances (such as asbestos, PCBs and other contaminants or petrochemical products stored in underground tanks) or other undesirable materials or conditions are present at BRENDAN COLLINS the Property and if so, whether any health danger or other liability exists. Various laws and regu- Senior Associate lations have been enacted at the federal, state and local levels dealing with the use, storage, han- (303) 267-0057x112 dling, removal, transport, and disposal of toxic or hazardous wastes and substances. Depending [email protected] on past, current, and proposed uses of the Property, it may be prudent to retain an environmental expert to conduct a site investigation and/or building inspection. If such substances exist or are GREGORY PORTER contemplated to be used at the Property, special governmental approvals or permits may be re- Senior Vice President – Mortgage Brokerage quired. Consequently, legal counsel and technical experts should be consulted where these sub- (760) 438-4401 stances are or may be present. In this Memorandum, certain documents are described in summary [email protected] form. The summaries do not purport to be complete descriptions of the full agreements involved, nor do they purport to constitute any legal analysis of the provisions of the documents. This brochure DANA WEINBERG shall not be deemed an indication of the state of affairs of the Owner nor constitute an indication Corresponding Broker that there has been no change in the business or affairs of the Owner since the date of MD License # #636049 preparation of this Memorandum. Photocopying or other duplication of the In- vestment Offering Memorandum in part or entirety is not authorized. THE OFFERING PROCESS DAYS INN HOTEL | BALTIMORE INNER HARBOR, MD An online auction event will be conducted on RealINSIGHT Marketplace in accordance with the Sale Event Terms and Conditions (https://marketplace.realinsight.com/legal-sale-terms). DUE DILIGENCE Due diligence materials are available to qualified prospective bidders via an electronic data room hosted by RealINSIGHT Marketplace. Prospective bidders will be required to electronically execute a confidentiality agreement prior to beingBALTIMORE allowed access INNERto the materials. HARBOR All due diligence must be conducted prior to signing the purchase and sale agreement. You may contact the sales advisors with any due diligence questions.BALTIMORE, MD BUYER QUALIFICATION Prospective bidders will be required to register with RealINSIGHT Marketplace to bid. Each bidder will be required to provide current contact information, submit proof of funds up to the full amount they plan to bid, and agree to the Auction Terms and Conditions. In order to participate in an auction, the Seller requires bidders to provide proof of their liquidity in an amount of at least their anticipated maximum bid for those assets they wish to bid on. Such liquidity must be in the form of cash, or cash equivalents, and must be available immediately without restriction. Generally, recent bank statements, brokerage account statements, or bank letters are acceptable. A line of credit statement may be acceptable only if it is already closed and in place, has undrawn capacity, and may be funded immediately without bank approval. Loan pre-approval letters, term sheets, and the like, where the loan would be collateralized by the property up for auction and funded at escrow closing, are NOT acceptable. Capital call agreements, investor equity commitments, and the like, are evaluated on a case- by-case basis. The acceptance of any proof of funds documents are made at the sole and absolute discretion of RealINSIGHT Marketplace. For further information, please visit the Bidder Registration FAQ (https://marketplace.realinsight.com/faq-bid-registration). AUCTION DATE The Auction end date is set for May 26th. RESERVE AUCTION This will be a reserve auction and the Property will have a reserve price (“Reserve Price”). The starting bid is not the Reserve Price. The seller can accept or reject any bid. All bidders agree to execute the non-negotiable purchase and sale agreement, which will be posted to the electronic data room prior to bidding commencement, should they be awarded the deal. For further information about how to bid, please visit the Bidding page (https://marketplace.realinsight.com/faq-bidding). CLOSING Following the auction, the winning bidder will be contacted by phone and email to go over specifics of the sale, including the execution of the purchase agreement and all documentation involved in the purchase. The winning bidder must be available by telephone within two hours of the sale. More information can be found on the RealINSIGHT Marketplace website. CONTACT INFORMATION Ketan Patel Managing Director (410) 598-7595 • [email protected] DATES Auction Start Date: May 24th Auction End Date: May 26th INVESTMENT SUMMARY | 3 I. INVESTMENT SUMMARY 4|DAYS INN HOTEL | BALTIMORE INNER HARBOR, MD C A DAYS INN HOTEL | BALTIMO RE INNER HARBOR, MD Opportunity Overview e o e f n n Lak r s e Ave. a p H P K . r ell . R HREC Investment Advisors has been retained as the exclusive broker representing a in y Ave d r g o k A R v l d H e. a r e n Mt. fo . ig d r d R h a e ts A Pleasant R i . H r s A . v i 695 t v d a e e e e Park l r v v . a e the owner and is pleased to offer to qualified investors the opportunity to acquire s A l t d B o n e ern e B w l th y or Pkw n G m n a y N . a e R 45 l w d v t A l . a e e R . B e h v h T e A . c The Days Inn Hotel Baltimore Inner Harbor (hereinafter referred to as “The Property” r n d o o v o l 25 L s B m r i te n n. t t ring L l o p a Seton s Cold S a i P r 95 r . B 129 a Institute d 26 G U R or “Hotel”) in Baltimore, MD. The 249-guestroom Days Inn Hotel Baltimore Inner ni v k er r W P s o k i . a w ty Y b y d a 25 . R L s ib h R er John n t A y e o H Harbor is a nine-story hotel conveniently located directly across the street from the e v 33rd St. l ig Hill l h e Hopkins i t s . n A G v . g e. t d Univ. r S e R R 40 e a s d i n e h . l m lp r Druid t. e a Baltimore Convention Center and Royal Farms Arena in the heart of the historic sea - o S d a h u l W Hill Park S y i n a C h in t . P d t Clifton G . y s Zoo P 695 o A w r a H M v Park i u k i e s l l a . l l u R S d P . y. t port and iconic landmark of the City of Baltimore, the Inner Harbor. Pkw . ns Fall Gwyn Security Blvd. North Ave. 1 F M u 122 l t o o n n r BALTIMORE o Gwynns A Coppin e 695 Leakin v S e Falls Park . State t Park . COUNTY John The Inner Harbor area contains a variety of restaurants, entertainment venues, at - Univ. Hopkins lin St. 2 Frank Hospital P a t. t Ave. S ap nson ette s dmo ay co tractions, and retails shops. Some of the attractions include the Baltimore Maritime E Oriole Park F 150 P Eastern Ave.
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