Berkadia®, a joint venture of Berkshire Hathaway and Jefferies Financial Group, is an industry leading commercial real estate company providing comprehensive capital solutions and investment sales advisory and research services for multifamily and commercial properties. Berkadia® is amongst the largest, highest rated and most respected primary, master and special servicers in the industry. This advertisement is not intended to solicit commercial mortgage loan brokerage business in Nevada.
© 2023 Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Berkadia® and Berkadia Commercial Mortgage® are trademarks of Berkadia Commercial Mortgage LLC. Investment sales and real estate brokerage businesses are conducted exclusively by Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Commercial mortgage loan origination and servicing businesses are conducted exclusively by Berkadia Commercial Mortgage LLC and Berkadia Commercial Mortgage Inc. Tax credit syndication business is conducted exclusively by the Tax Credit Syndication group. For state licensing details for the above entities, visit: https://www.berkadia.com/licensing/.
Rebecca Van Reken
Managing Director
407.232.0400
rebecca.vanreken@berkadia.com
Alec Fox
Associate Director
727.871.9576
alec.fox@berkadia.com
Natalie Castillo
Managing Director
786.646.2592
natalie.castillo@berkadia.com
Michael Weinberg
Managing Director
Hotels & Hospitality
321.319.1419
michael.weinberg@berkadia.com
Luca Albisetti
Real Estate Analyst
786.310.3693
luca.albisetti@berkadia.com
Mabelle Perez
Director
786.646.2587
mabelle.perez@berkadia.com
Kyle Sahlsten
Associate Director
813.574.1398
kyle.sahlsten@berkadia.com
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PHOTO GALLERY
The Orlando metropolitan statistical area (MSA), encompassing Orange, Seminole, Lake, and Osceola counties, is the 23rd largest MSA in the US, strategically located in central Florida. From 2010 to 2019, Orlando ranked as the second-fastest-growing metro area in the country.
This growth can be attributed, in part, to its advantageous location at the intersection of Interstate 4 and the Florida Turnpike, facilitating convenient travel across the state and along the east coast. Orlando, home to renowned attractions such as Walt Disney World, Universal Orlando Resort, and Sea World, remains the top travel destination in the U.S., according to AAA Travel's Top 50 Most Visited Cities in 2023. Beyond tourism, Orlando has emerged as a well diversified city, serving as a hub for various industries including banking, manufacturing, distribution, technology, and education. Additionally, Orlando holds the distinction of being the premier destination in the U.S. for meetings and conventions. To maintain its position and further expand the market's group demand, Visit Orlando has launched a targeted campaign aimed at C-Suite decision makers. This initiative is projected to significantly increase business meetings in the destination, resulting in a substantial rise in hotel room nights.
ORLANDO LODGING MARKET OVERVIEW
PROPERTY INFORMATION
The hotels can follow the path of other renovated and updated properties to increase market penetration and allow the property to further improve its top line in comparison to its peer group.
Offered unencumbered by debt and management
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The hotels can follow the path of other renovated and updated properties to increase market penetration and allow the property to further improve its top line in comparison to its peer group.
Desirable Home2 & Hilton Garden Inn Brand Affiliation
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The hotels can follow the path of other renovated and updated properties to increase market penetration and allow the property to further improve its top line in comparison to its peer group.
Renovated rooms with a corporate PIP not due until 2026 which is limited to $7,500 per key
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Located within the Orlando South submarket which as of September 2023 experienced a sharp increase in its twelve-month RevPAR at a 16.3% year-over-year rate
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Duval House has by right, the ability to expand square footage to increase room size and convert its retail space potentially to a F&B use.
Attractive in-place cash flow with revenues of over $3M
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Key West zoning prohibits new development and transient licenses are finite and violations enforced.
Less than five miles from LeeVista Center, Orlando’s premier mixed-use business park with over 650,000 square-feet of Class A office space, and 1.45 million square-feet of office, distribution, and industrial space
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Duval House is on the most desirable street for guests visiting Key West nightlife.
Excellent location less than one mile from Orlando International Airport (MCO), the 8th busiest airport in the U.S.
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Berkadia is pleased to present the 128-room La Quinta Inn & Suites by Wyndham Orlando Airport West (“Hotel”, “Property”). The Property is located on the northwest corner of the Orlando International Airport (MCO) just off I-528/Martin Andersen Beachline Expressway, and less than one mile from the entrance to MCO, the eighth busiest airport in the United States. The hotel is also located within the LeeVista Center, Orlando’s premier mixed-use business park with over two million square feet of Class A Office, Distribution, and Industrial space. The Hotel offers easy access to the #1 most visited city in the country with a less than 20-minute drive to seven of the most visited theme parks in the world.
The three-story, exterior corridor Property features an outdoor pool, business center and well-appointed lobby/breakfast area. The Property underwent a guestroom refresh in 2017/2018 which encompassed nearly 50% of casegoods and guestroom flooring. The hotel has achieved revenue of over $3M throughout 2023.
The La Quinta Orlando Airport West will be sold at a price significantly below today’s replacement cost and is offered unencumbered of management which provides an attractive opportunity for a new owner to significantly improve operating cashflows. Furthermore, the Wyndham franchise will be transferred to the new owner which continues through 2038 with very limited PIP requirement of up to $7,500 per key by 2026.
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The hotels can follow the path of other renovated and updated properties to increase market penetration and allow the property to further improve its top line in comparison to its peer group.
Unencumbered by management creates significant operating upside for an owner-operator
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7931 Daetwyler Dr, Orlando, FL 32812
address
1987
year built
2017/2018
128
rooms
74,650 SF
building size
3
number stories
110
parking spaces
C-1
zoning
2.5
acres
15.8134
milage code
+/-1,160 SF
Meeting Space
year renovated
Strategically located less than two miles from Orlando International Airport (MCO) making it the Property’s main demand driver
Recently celebrated one-year anniversary of Terminal C, part of a $2.7 billion expansion project
Terminal C is the first airport terminal in the U.S. with direct access to a train station (Brightline), providing convenient transportation along Florida's east coast
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FRANCHISE
(encumbered thru 2038)
Amenities
Orlando International Airport (MCO):
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Proximate to LeeVista Center, a thriving business park with 1,450,000 square feet of office, distribution, and industrial space
Notable tenants include U.S. Postal Service, Allied Universal Security Services, Oracle, and Publix Warehousing & Distribution Orlando
Adjacent to Lee Vista Promenade, a retail destination with over 300,000 square feet of space anchored by Ross Dress For Less
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LEEVISTA CENTER
With a focus on accommodating the increasing passenger traffic, the Greater Orlando Aviation Authority Board (GOAA) updated funding for major projects at MCO in October 2023. These projects include upgrading Terminal C and preparing for renovations in Terminals A and B. With passenger traffic reaching a record total in June 2023 (54.6 million), the GOAA is projecting year-end 2023 numbers to approach 58 million. To accommodate this growth, the GOAA has initiated plans for Phase Two of the Terminal C expansion project, which will include the addition of 16 to 24 aircraft gates. Expansion of Terminal C continues to move forward with the construction of eight new gates, which were part of the original Phase One plan, that are set to open by Q4 2025, further expanding capacity for an additional 3 to 5 million passengers.
A pedestrian bridge with moving walkways is also under construction, connecting Terminal C directly to the Intermodal Terminal. This will allow passengers to easily connect to MCO terminal trams and Brightline trains. The pedestrianThe pedestrian bridge and moving walkways are expected to be completed in mid-2024.
Universal Studios’ highly anticipated Epic Universe theme park, opening by summer 2025, will enhance the area's appeal
The expansion includes 2,000 new hotel rooms, increasing capacity for park visitors
Universal Studios has committed $125 million towards an 11-mile rail corridor (Sunshine Corridor), a crucial link for Brightline's extension of train service to Tampa
Completion of Universal's Epic Universe and Orlando's Sunshine Corridor rail project will provide Hotel guests with private rail access to Orlando’s attractions
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UNIVERSAL STUDIOS FLORIDA
Outdoor
Pool
Complimentary
Breakfast
Business
Center
Meeting
Room
Complimentary
Parking
Strategically located less than two miles from Orlando International Airport (MCO) making it the Property’s main demand driver
Recently celebrated one-year anniversary of Terminal C, part of a $2.7 billion expansion project
Terminal C is the first airport terminal in the U.S. with direct access to a train station (Brightline), providing convenient transportation along Florida's east coast
Brightline Orlando Station began service on September 22, 2023
Private rail transportation will enhance convenience and connectivity for guests along Florida’s east coast
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BRIGHTLINE
Mabelle Perez
Director
786.646.2587
mabelle.perez@berkadia.com
Now Scheduling Tours for Wednesday, January 10th
Please reach out to
Natalie Castillo
Mabelle Pereze
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