Offer Memorandum

Siesta Motel Marrero, LA No warranties or representations, expressed or implied is made as to the accuracy of the information contained herein and this information if offered subject to errors, omissions and changes without notice. Purchasers should conduct their own investigations and confirmation of information presented herein. The Hajari Realty, Inc. is the Agent of the Seller.

Seller's Agent Hajari Realty, Inc. (Seller’ Broker) is exclusively retained to offer the fee‐ simple interest in the 68‐room Siesta Motel, one of the leading premium and independent economy hotels in Marrero community, 8.8 miles from Louisiana’s largest market, New Orleans, Louisiana. The renovated

Hajari Realty, Inc. motel is available unencumbered by management, nonetheless likely 3051 Hwy. 90 available for licensing with flags (brands) affiliated with outstanding Avondale, LA 70094 companies like Choice Hotels International, RLH Corporation, Wyndham p: (504) 218-7101 Hotels International, Red Roof Inn Franchising, LLC, or Hospitality [email protected] International, Inc. upon completion of a modest Property Improvement www.hajarirealty.com Plan (PIP).

Built around 1972 with 68 guest rooms and a very SPACIOUS manager’s / living quarters on-site, motel features include air- conditioning / heating, daily housekeeping services, microwaves, refrigerators, telephones/tv’s, and Wi-Fi access. The two-story exterior corridor property has approximately +/-14,400 square feet of building area situated on +/- 1 acres located on busy Westbank Expressway (Business 90) commercial corridor nearby to restaurants, (Perino’s Boiling Pot & Seafood, Taco Bell, McDonald’s, Burger King, Pizza Hut, Domino’s, El Paso Mexican Grill, Wendy’s, Smoothie King, and Sonic Drive-In) hotels (Baymont, Motel 6, & Comfort Inn) and retail business such as (Budget Saver, Piggly Wiggly, Winn-Dixie, CVS Pharmacy, Walgreens, Walmart Super Center, Lowe’s Home Improvement, Home Depot, Auto Dealership and service businesses). The motel is located steps from West Jefferson Medical Center Hospital and prestigious educational institutions, such as Academy of Our Lady and Archbishop Shaw High School.

The Siesta Motel is the only motel offering exterior-corridor budget friendly rooms that meet an underserved and unique customer-base that visits and works in the Marrero area. The motel offers spacious well‐ appointed guestrooms with microwave and refrigerators in all rooms. Please refer to pictures and further descriptions of this building in the offer memorandum. Located within theNew Orleans–Metairie–Kenner Metropolitan Statistical Area. Marrero’s location and access to Business ‐ 90 (Westbank Expressway) makes it an ideal facility for hosting guest. Just a short drive (8.8 miles) to New Orleans, LA - Annual events such as the much celebrated “ESSENCE Festival”, “Vodoo Festival”, “Bayou Classic”, “French Quarter Festival”, “New Orleans Jazz and Heritage Festival”, and Mardi Gras - https://www.neworleans.com/things-to- do/festivals/ . No warranties or representations, expressed or implied is made as to the accuracy of the information contained herein and this information if offered subject to errors, omissions and changes without notice. Purchasers should conduct their own investigations and confirmation of information presented herein. The Hajari Realty, Inc. is the Agent of the Seller. The city of Marrero offers visitors Bayou Segnette State Park, Alario Center, Jean Lafitte National Historical Park & Preserve – Barataria Preserve, as well many other parks and nearby attractions (http://www.jeffparish.net). Hajari Realty, Inc. 3051 Hwy. 90 Avondale, LA 70094 The hotel offers significant upside with more strategic p: (504) 218-7101 management, direct sales efforts, and possibly branding to meet [email protected] today’s customers’ loyalty redemption programs available www.hajarirealty.com through various hotel chains. Today it is operating with stable in‐ place cash flow and above-average occupancy. The hotel has potential for increasing the RevPAR upon completion of a PIP and implementation of a more aggressive revenue management strategy. The ideal buyer will be an Owner‐Operator, regional

Hotelier, or first-time hotel buyer, who completes a “Minimal” renovation, takes the time to enhance top‐line revenues while staying focused on operating efficiencies, thus achieving a stronger bottom‐line. Perfect size property to learn the ins-and- outs of the hotel / lodging business.

Year End December 2014 Revenues were: $656,691 Year End December 2015 Revenues were: $ 668,478 Year End December 2016 Revenues were: $ 599,006* Year End December 2017 Revenues were: $585,157* Year End June 30, 2018 Revenues were: $314,802

*Note: Motel experienced various turbulences due to federal political changes in the government related to oil drilling and production activities. Even with market suppression in the past, the motel is now re-poised this year (2018); thus rebounding due to oil activity increasing, increase in convention business, and market conditions improving. Please ask broker for details.

The hotel can be financed through with various lenders at conducive terms. Please ask broker for details.

No warranties or representations, expressed or implied is made as to the accuracy of the information contained herein and this information if offered subject to errors, omissions and changes without notice. Purchasers should conduct their own investigations and confirmation of information presented herein. The Hajari Realty, Inc. is the Agent of the Seller.

Asking price: $2,200,000 ONLY $32,000 per room Accepting the best offer! Hajari Realty, Inc. 3051 Hwy. 90 Avondale, LA 70094 The hotel is located approximately 14 miles from the p: (504) 218-7101 [email protected] existing New Orleans International Airport (MSY) - a www.hajarirealty.com soon to be billion dollar upgraded new facility!

http://www.flymsy.com/capitalimprovements/Projects-in- Construction/New-Airport-Terminal-Under-Construction)

SiestaM Marrero,o LtAel

In‐Place Steady Business – well established in the community as an independent Bedroom Community 8 Miles from New Orleans, LA Upside Potential with Better Revenue Management Upside Potential with improved Owner-Operation Upside Potential with branding! Many OPTIONS avail. Well-maintained facility – recently renovated! Perfect investment to live and work near MAJOR CITY Priced to Sell at $2,200,000 |$32,000 per unit |Accepting all OFFERS!

No warranties or representations, expressed or implied is made as to the accuracy of the information contained herein and this information if offered subject to errors, omissions and changes without notice. Purchasers should conduct their own investigations and confirmation of information presented herein. The Hajari Realty, Inc. is the Agent of the Seller. Hajari Realty, Inc. 3051 Hwy. 90 Avondale, LA 70094 p: (504) 218-7101 [email protected] www.hajarirealty.com

Property Identification Property: Siesta Motel Address: 5353 Westbank Expressway Marrero, LA 70072 Major Crossroads: Business - 90 (Westbank Expressway) and Barataria Blvd. (LA-45) County / Parish: Jefferson Parish Township: City of Marrero Building Features Year Open: 1972 Total Guest Suites: 68 Guest Room Mix: Double Queen: 16 Single King: 20 Singles Queen: 32 Suites: 0 Corridors: Exterior Floors:Two Buildings: Two (Bldg. 1 = 45 rooms / Bldg. 2 = 23 rooms) Elevator: N/A Porte Cochere: Clearance 9 Feet No warranties or representations, expressed or implied is made as to the accuracy of the information contained herein and this information if offered subject to errors, omissions and changes without notice. Purchasers should conduct their own investigations and confirmation of information presented herein. The Hajari Realty, Inc. is the Agent of the Seller. Double Queen Guest Room Double Queen Mattress and Box Springs TVs Refrigerators / Microwaves New Guest Room Lighting Updated Painting & Bathrooms

No warranties or representations, expressed or implied is made as to the accuracy of the information contained herein and this information if offered subject to errors, omissions and changes without notice. Purchasers should conduct their own investigations and confirmation of information presented herein. The Hajari Realty, Inc. is the Agent of the Seller. King Standard

No warranties or representations, expressed or implied is made as to the accuracy of the information contained herein and this information if offered subject to errors, omissions and changes without notice. Purchasers should conduct their own investigations and confirmation of information presented herein. The Hajari Realty, Inc. is the Agent of the Seller. Guest Bathrooms

Hajari Realty, Inc. 3051 Hwy. 90 Avondale, LA 70094 p: (504) 218-7101 [email protected] www.hajarirealty.com

No warranties or representations, expressed or implied is made as to the accuracy of the information contained herein and this information if offered subject to errors, omissions and changes without notice. Purchasers should conduct their own investigations and confirmation of information presented herein. The Hajari Realty, Inc. is the Agent of the Seller. Exterior Building Photos

Hajari Realty, Inc. 3051 Hwy. 90 Avondale, LA 70094 p: (504) 218-7101 [email protected] www.hajarirealty.com Exterior Building Photos

Hajari Realty, Inc. 3051 Hwy. 90 Avondale, LA 70094 p: (504) 218-7101 [email protected] www.hajarirealty.com Exterior Building Photos

Hajari Realty, Inc. 3051 Hwy. 90 Avondale, LA 70094 p: (504) 218-7101 [email protected] www.hajarirealty.com Exterior Building Photos

Hajari Realty, Inc. 3051 Hwy. 90 Avondale, LA 70094 p: (504) 218-7101 [email protected] www.hajarirealty.com Hotel Amenities Meeting Space: N/A Hajari Realty, Inc. 3051 Hwy. 90 Other: Smoke Free rooms available Avondale, LA 70094 Breakfast Area: N/A p: (504) 218-7101 [email protected] Free Internet www.hajarirealty.com Swimming Pool: N/A Business Center: N/A Fitness ‐ Room: N/A Guest Laundry: N/A Vending Areas - one ice machine

Site Features Ownership: Fee Simple Site Size: +/- 1.00 Acres Parking Spaces: 60+ Site Improvement: Paved/Concrete Parking, Exterior Lighting, Porte Cochere,Various Scrubs and trees Paved Area: +/- 15,000 Square Feet Signage: Pylon Porto Cohere: (9 foot height)

No warranties or representations, expressed or implied is made as to the accuracy of the information contained herein and this information if offered subject to errors, omissions and changes without notice. Purchasers should conduct their own investigations and confirmation of information presented herein. The Hajari Realty, Inc. is the Agent of the Seller. Business Performance Hajari Realty, Inc. Revenues (Hotel Stat Report) 3051 Hwy. 90 Avondale, LA 70094 2017 Room Revenue $585,157.12 p: (504) 218-7101 [email protected] 2016 Room Revenue $599,006.38 www.hajarirealty.com 2015 Room Revenue $668,478.96

Hotel Operating Statistics

Occupancy

ADR: Please Haasjakr i bRreoalktye, rIn fco. r details. ReVPAR: 3051 Hwy. 90 Avondale, LA 70094 p: (504) 218-7101 [email protected] www.hajarirealty.com Hotel Competitive Set

Name City Year Built Rooms Baymont Inn Marrero 2007 79 Comfort Inn Marrero 2007 73 Motel 6 Harvey 1984 106 Best Western Westwego 2003 67

Hotel Competitive Set

Occupancy: 60% - 75%

ADR: $75 - $125

RevPAR: $46 - $56 Real Estate & Personal Property Tax

Jefferson Parish: Hajari Realty, Inc. Real Estate Tax: $ (2017 pay 2017) 3051 Hwy. 90 Parcel #: 0420004939 Avondale, LA 70094 p: (504) 218-7101 [email protected] www.hajarirealty.com Jefferson Parish: Real Estate Tax: $ (2017 pay 2017) Parcel #: 3420859201

$28,741.24* *Total RE Taxes (approximate values)

Leased Equipment: None

Renovations

Last Date of Renovation: 2018 Current PIP: Available Upon Request

Utility Providers: Available Upon Request Telephone: Internet: Gas Service: Water & Sewer: Electricity: Hotel Laundry: Two Washers and Two Dryers Hot Water: Two - Gas fired Water Heaters

No warranties or representations, expressed or implied is made as to the accuracy of the information contained herein and this information if offered subject to errors, omissions and changes without notice. Purchasers should conduct their own investigations and confirmation of information presented herein. The Hajari Realty, Inc. is the Agent of the Seller. Contact Seller’s Exclusive Broker:

Hajari Realty, Inc. HAJARI REALTY, INC. 3051 Hwy. 90 Avondale, LA 70094 p: (504) 218-7101 [email protected] www.hajarirealty.com Mehul Hajari 3051 Hwy. 90 Avondale, LA 70094 Ph: (504) 218-7101 Mo: (504) 296-6676 [email protected] www.hajarirealty.com

Licensed by the Louisiana Real Estate Commission

No warranties or representations, expressed or implied is made as to the accuracy of the information contained herein and this information if offered subject to errors, omissions and changes without notice. Purchasers should conduct their own investigations and confirmation of information presented herein. The Hajari Realty, Inc. is the Agent of the Seller.