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Note Sale 62-Room AmericInn Hotel w/Indoor Water Park, Appleton, WI
DISCOUNTED: 56%APPRAISED VALUE:
OFFERING PRICE: $1,750,000
NP Note Sale - 62-Room Hotel w/Indoor Water Park, Appleton, WI
NON-PERFORMING NOTE SALE
62-Room AmericInn with Splash Zone(TM) Indoor Water Park
Built in 2006
First Position Note
Location
Appleton, Wisconsin
Appraised Value/BPO: $4,000,000
Discounted Note Price: $1,750,000
Note Offered at 44% of Appraised Value
Pool 1 - $2,313,000.00 1st CREM
- Collateral – 62 Room Hotel
- Price for note now $1,750,000
- Original to be built appraisal $4.5MM
- Discounted Appraised Value - $3,860,000.00 4/28/2005
- Bank is well reserved and a motivated seller
- Performing with slow pay
Borrower and Co-Borrower (Trust held by in-laws) have invested over $1,000,000.00
There is an SBA 504 loan in second position for $1,289,000.00
All phone systems, lock systems and FFE are owned and included as collateral
AmericInn WI
Built 2006
62-Room Hotel with Splash Zone(TM) Indoor Waterpark
ADR $86.00 2007 – 40% occupancy
According to account officer hotel is full on weekends but struggles through the week
AmericInn operates properties in 22 states, 213 locations
Contact Person's Name: James Jarrell
Contact Phone Number: +1 702-882-8657
Contact E-mail address: jjarrelldlgrealty@yahoo.com
Brokerage Name: DLG Realty and Investments
Submitted by: admin
Property ID Number: 27
Property ID Name: AmericInn
Added: Tue Apr 29 2008
Last Modified: Wed Apr 30 2008
