The Embassy Suites by Hilton Tulsa I-44, is a 9-story concrete foundation. Constructed with a masonry, stucco exterior and built on 3.97 acres. The full-service upscale Embassy Suites consists of 247 large guest rooms and suites. Equipped with a complimentary cooked-to-order breakfast and dining experience at the hotel restaurant & bar. Amenities include, but are not limited to, an indoor swimming pool and hot tub, 4,320 SQFT of flexible meeting space, and in-room Wi-Fi.
The hotel is conveniently located right off Interstate-44, in the heart of Tulsa, OK. Within driving distance of a small radius, visitors can find the Tulsa International Airport and attractions such as the Tulsa Ballet Theatre, BOK Center, and Tulsa Expo Center.
Background
- Name: Embassy Suites by Hilton Tulsa I-44
- Address: 3332 South 79th East Avenue, Tulsa, Oklahoma, 74145
- Land Acreage: 3.97 Acres
- Number of floors: 9 Floors
- Meeting Space: 4,320 SF of flexible meeting space
- Elevators: 4-Total elevators
- Rooms: 247
- Class: Upscale
- Amenities: 24-Hour Pavillion pantry market, atm, baggage storage, bar & restaurant, complimentary beverage area, complimentary breakfast area, business center, coin laundry, lounge, luggage hold, meetings rooms, indoor, pool, room service, safety deposit box, snack shop, fitness room, laundry/valet service
Investment Summary in Tulsa, OK
The Embassy Suites by Hilton was Shreem Capital’s most recent acquisition in August 2022. The 9-Story full-service Hilton hotel located at the major intersection of Interstate 44 and Highway 61, provides great visibility to the 200,000 annual travellers passing daily. The hotel is driven by both corporate and leisure demand generators, that include: American Airlines, ONEK Inc., State Farm, and newly added corporate demand from the technology and gas & oil sector, entering into the Tulsa market.
This investment fund offered the opportunity to effectively acquire an up-to-date Embassy Suites by Hilton for below 2022 replacement costs. Providing significant upside post-repositioning of the investment, for its investors. Scheduled to commence in the following fiscal year. Creating the opportunity to increase Average Daily Rate and Gross Operating Margins, by better penetrating the competitive marketplace. The Embassy Suites by Hilton I-44 Tulsa, OK strives to generate a substantial upside, for all Shreem Capital Investors, on the exit value and year-over-year increased returns during holding period through an active management strategy.
Deal Status: Closed
Sector: Hospitality Real Estate
Strategy: Upscale, Full Service, Franchise Branding
Country: United States
Close Date: 6/30/2022
Commitment Amount: $11,009,625.00
No of Rooms: 247
Target IRR: 22%
Avg. Annual Cash Yield: 9.42%
Target Equity Multiple: 2.56x
Minimum Investment: $25,000
Raised: 100%
