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Industry

Real Estate

Company Type

Branded Short-Term Stay Apartments

Size

$22 Million

Investment Type

Equity

Overview

Our client is seeking up to $22 million of equity to convert a Chicago office building into short-term stay apartments under a major hospitality brand.

 

  • Provides travelers with residential amenities including full kitchens and separate bedrooms – part of a massive international rewards program

  • Unique business plan is intended to generate hotel-like revenues with apartment level expenses due to its light staffing model, such as weekly instead of daily housekeeping

  • Seven-year projected leveraged IRR of 27%; leveraged ROE of 11.1%; unlevered ROI of 10.5%; MOIC of 3.1x (see important risk disclaimer below)

  • Multiple award-winning sponsor with extensive local and national development/redevelopment experience, including nearly a dozen large-scale adaptive reuse and landmark preservation projects

To learn more please contact:

John Haltmaier

jhaltmaier@castleplacement.com

973-699-7995

https://www.linkedin.com/in/johnhaltmaier/

 

 

*A detailed financial model with assumptions and scenario analysis functionality is available upon request. Target returns are presented solely for the purpose of providing insight into the company’s objectives, detailing anticipated risk and reward characteristics, and establishing a benchmark for future evaluation of performance. Target returns are not a predictor, projection or guarantee of future performance. There can be no assurance that these targets will be met. There is no guarantee as to the company’s future performance or the adequacy of the methodology used for estimating future returns. Target returns should not be used as a primary basis for an investor’s decision to invest.

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CONTACT US

Hi. We're not around right now. But you can send us an email and we'll get back to you, asap.

Thanks, Ken

Ken Margolis | Managing Partner Castle Placement, LLC
1460 Broadway Street, Rte 400
New York, New York 10036
(212) 418-1188 | C: (516) 712-7784
kmargolis@castleplacement.com

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