Madison Commercial Properties, LLC的动态

August Hotel Sales in California by the numbers: - Transactions: 18?( ? 22% from last LY) - Price per key: $172,697 ( ?? 13% from LY) - Sale vs Asking price: ? 17.6% - Sales Volume: $223 million ( -1% from LY) - Months to sale: 5.9 months - Average Cap Rate 5.6% (Reported data) Notes: The California Hospitality market continues to slowly move forward. Some some diversity in the buyers and sellers for the first time in a while. Institutional and User Buyers had a strong month in acquisitions. We did see a significant reduction in sale vs asking price which further indicates a correction in valuations. Overall, investors are cautiously looking at the California market and being very specific on location. Los Angeles finally experienced some activity with a trade in Glendale and Inglewood. Notable Sales: - Lum Hotel in Inglewood, CA - Extended Stay America in San Diego, CA (San Diego Housing Commission) - Ramada Costa Mesa - Staybridge Suites in Torrance,CA - Best Western Plus Hacienda Hotel Old Town #hospitality #hotel #hotelbusiness #california #losangeles #lamarket #hotelier #boutiquehotel #boutique #hotelforsale #sandiego #sanfrancisco #cre #commercialrealestate

As higher interest rates keep deal underwriting difficult, the bid-ask spread continues to be elevated. Owners with strong operating histories encountered buyers looking for distress, and neither side was willing to give in 2023. Read our newsletter to find out more about how the start to the new year has been so far for the US hotel sector here - https://lnkd.in/dxEsj3Ni Vivek Shah Ronak Gajaria #hotelvaluation #ushotelvaluation #uslodging #ushotels #hotelappraisals #hoteltaxsavings #ushoteltaxappeals #knavus #beyondbetter

The Mill Bondi Junction sold by JLL JLL's Hotels & Hospitality Group has today announced yet another pub sale. This time it’s the off-market sale of The Mill, Bondi Junction for JLL’s market leading pubs team with Managing Director, Ben McDonald and Senior Vice President, Kate MacDonald responsible for the sale. Selling the hotel was prominent industry group, Universal Hotels the hospitality vehicle owned and operated by the Kospetas family who were also recently identified as the buyer of the Evening Star Hotel in Surry Hills – that deal also brokered by JLL. The limited availability of pubs below $10m in Sydney’s East was also a key motivating factor behind the swift acquisition and closely follows JLL’s $12m sale of the much-loved Unicorn Hotel on Oxford Street, Paddington. Ben McDonald noted, “With publicans having a greater focus on earnings given the current lending environment and respective debt covenants, high cashflow leasehold assets are drawing greater interest from savvy hoteliers seeking to bolster their portfolio returns.” Gillian Berardi Will Connolly Nick MacFie Greg Jeloudev Gareth Closter Nicola Raeburn Lachlan Persley Elyse Balcombe Debbie Farrelly Peter Harper Nick Thompson Mark Walsh Edward Browne Gus Moors Andrew Langsford Matthew A. Adam Bury Tom Gleeson Christian Tsalikis #jll #jllaus #jllhotels #pub #pubnews #hotelnews #hotelindustry #businessbrokerage #businessforsale #hospitalitybusiness #bondijunction

?? South Florida's hotel transaction volume has in Q1 of 2024, when compared to Q1 of 2023. Factors such as reduced occupancy rates, new hotel supply, and tighter lending criteria has constrained investment activity within the hospitality sector. ?? While hotel owners feel financial strain from brand-mandated renovations (PIP's), rising costs, and uncertain interest rates, buyers are feeling the pressure from lenders as access to capital becomes more challenging. Will buyers and sellers become more engaged and lead to a rebound in deal volume throughout the remainder of the 2024? Follow us for continued access to market data! ?? #HospitalityCRE #CREBrokers #ZYXCapital

September Hotel Sales in California by the numbers: - Transactions: 12?( ? 42% from last LY) - Price per key: $97,950 ( ?? 42% from LY) - Sale vs Asking price: ? -4.9% - Sales Volume: $77 million ( -60% from LY) - Months to sale: 3.8 months - Average Cap Rate: Not enough closing data to report average cap rate. Data Provider: Costar Analytics Notes: September data is a bit skewed due to a few purchases that have not disclosed final sales price and or cap rate. However, transaction pace is slow and it seems that a lot of investors are cautiously optimistic on acquisitions. A lot of hotel owners have mentioned sharp increases in operational costs and overall outlook on the state of California as a motivation to dispose. We are noticing an uptick of inventory and our proposal pipeline is full. We are confident that more rate cuts will inject some energy into hospitality investments going into 2025. Notable Sales: - Riviera Resort in Palm Springs - Ontario Airport Hotel & Conference Center (Bankruptcy Sale) - Mission Bay Inn San Diego - Hampton by Hilton in San Marcos, CA #hotel #hospitality #california #losangeles #hotelmarket #sandiego #hotelier #boutiquehotel #hospitality #hospitalitysales #cre

The commercial real estate crisis is everywhere in every asset class of every quality.

If you’re a big hotel brand, is it a case of convert to grow? New builds in the hospitality industry have slowed due to high interest rates and increased construction costs. One way around this has been conversion agreements between hotel operators and large multinational chains. Marriott and Accor, for example, have seen conversions accounting for a large portion of their new hotel openings. Truist Securities notes that global conversions have only accounted for 10-20% of new rooms historically, but are closer to 40% today. (Reuters) For independent hotel operators, branded conversions can help offset or fund PIPs (property improvement plans), potentially offering a cash infusion that helps keep the property up-to-date. While operators have to contend with franchise and licensing fees, they also have the chance to snag loyal program guests and drive up occupancy. Conversions of existing hotels to another brand may be the strategy needed for operators to weather higher borrowing and construction costs. #Hospitality #Hotels #Franchises #Brands #InterestRates #BorrowingCosts #ConstructionCosts

I don't know why brokers do this?!?!?!?! I looked at this hotel in the Houston area... I went to the STR report and pulled the following numbers I could potentially achieve if I could get the hotel performing up to the average of the comp set. Average daily rate (ADR) - $50 Occupancy rate - 54% keys - 120 What could this hotel potentially gross annually? 50 * .54 * 120 8 365 = 1,182,600 We will use a NOI of 30% 1,182,600 * .3 = 354,780 Let's go with a 10% cap. I should be even more conservative on the cap, but you will see why it doesnt matter at this stage. 354,780 / .1 = 3,547,800 proforma value. The current asking price is 4,995,000. I don't know brokers overprice their listings. What this place could be worth is not even as high as their asking, let alone what the current value calculates to be with lower income. Obviously, I skipped on this one and moved on to the next deal to underwrite.

JUST CLOSED HOTEL!!! HOLIDAY INN EXPRESS DEVILS LAKE The hotel is a three-story structure built in 2008 and features 60 guestrooms. With the current franchise agreement nearing its end, the investor was able to take advantage of a unique opportunity with franchisors aggressively pursuing recently built and well-located hotels for conversion. Devils Lake, North Dakota, entices travelers with its stunning natural beauty, boasting the largest natural body of water in the state. The hotel itself is situated on a large parcel on Highway 2, famously referred to as The Great Northern Road Trip and spans the entire northern United States and in to Canada. Overall, this acquisition also provided the investor the opportunity to acquire a historically consistent performing hotel with an ideal franchise situation at considerably below replacement cost. Enhanced projected revenue generation and improved operating margins via a more hands on approach moved multiple investors to make offers, each recognizing the substantial upside potential of ownership. Our team is making significant strides, having recently closed numerous deals, as we progress towards our goal of achieving a record-breaking year. Contact us to capitalize on hospitality opportunities. We'll guide you expertly, maximizing your returns. Jake EricksonJared PlamannJoseph FergusonSarah Piper #marcusandmillichap #cre #HospitalityInvestments #MinneapolisStPaul #RealEstateInvesting #hotelbroker #hotelsales #hospitalityindustry

Attention Luxury Residential investors, secure this property before the next Fed rate cut, taking advantage of the current slow summer season in South Florida. It's the prime opportunity to make your purchase; Exceptional Value: Priced at $905 per square foot, this property offers unparalleled value compared to comparable waterfront listings in Fort Lauderdale, Florida, which typically range from $1,000 to $2,600 per square foot. Send me a DM to send you comparables. Upside Potential: An extraordinary opportunity awaits to capitalize on significant upside potential. Enhance this property's blank-canvas appeal with upscale design touches to maximize its value. Investment Opportunity: Ideal for investors, capitalize on income potential from Airbnb/short-term rentals. With nearby construction of 7-figure luxury residences nearing completion on the street and cul-de-sac, now is the perfect time to invest and reap future rewards. #commercialestates #luxuryresidential #boating