Overview
Total Portfolio Activity 18% Total Assets Under Management 300,000,000
Targeted Investor IRR 15 Targeted Equity Multiple 2
Targeted Average Cash Yield 10 Targeted Investment Period 5
Property Type Hotel Location|MSA North Philadelphia
Targeted Project IRR 15 Sponsor Co-Invest ($) 1,000,000,000
Sponsor Co-Invest (%) 10 Offers Due 2021/08/26
Funds Due 2021/08/26 Targeted Distribution Start Date 2021/08/26
Initial Posting Date 2021-08-26 11:00:36
Table Of Contents

Details on investment structure, promote structure, fees, and targeted cash flow tables

Details on Sponsor’s strategy and deal execution, entrance and exit cap rates, and market leasing assumptions

Physical details of the property, aåmenities, rent roll, and site plans

North Philadelphia
The Business Plan

WARD’s objective will be to continue Prieto’s successful opportunistic real estate investment activities, with focus on repositioning underperforming hotel and resorts in the United States.  At the Crowne Plaza in Syracuse, New York  this will entail the following: 

  • The Property will remain a Radisson Hotel and ASNE Club featuring an Amusement City. 
  • WARD will renovate the existing hotel spaces to meet brand standards and invest in various upgrades to the property that will allow for it’s uses as a smaller ASNE Club standards. 
  • WARD will enter into a management agreement with HVMG and Mr. Pro-Fun the day-to-day operations 
  • The ASNE Club:  I.e. Amusement City  will enter into a lease for approximately TBD, now commonly  known as the Buckeye ballroom space, rooftop terraces, restaurants for an annual rent payment of $300,000 NNN and will provide a letter of credit of $300,000
Description

As the official hotel of Sesame Place Theme Park, the Radisson Hotel in  Philadelphia Northeast is the perfect place for families to rest and recharge. Located near the intersection of US-1 and I-276, just 30 minutes from Philadelphia, the hotel provides easy access to nearby destinations like Philadelphia Mills Mall. 

After a day of theme park thrills or non-stop shopping, guests can grab a bite at our on-site restaurant and update social media with free Wi-Fi. Guests can also relax on the sundeck while the kids splash in our indoor/outdoor pool.




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