Marriott Fairfield Inn & Suites sold for 100% of Reserve via auction on RealINSIGHT Marketplace

  • Oct 07, 2020
  • Marketplace Closings

RealINSIGHT Marketplace captures strong demand for Marriott Fairfield Inn & Suites.

RealINSIGHT Marketplace and Berkadia have closed on the sale of the Marriott Fairfield Inn & Suites in Louisville, KY. Even in a challenging market the team was able to generate strong interest and deliver an impressive result. 

The 78-key Marriott-branded hotel is located less than five minutes from downtown Louisville. Fully renovated in 2016, the hotel was offered unencumbered by management and with up-side potential.  

With the current economic climate and tertiary location, the team worked together to help potential buyers understand the gaps in revenue caused by the COVID pandemic, and positioned the asset as an opportunity with a long-term value execution.  

The marketing strategy focused on most likely buyers, educating them of the upside potential through digital, print and direct marketing outreach. These efforts garnered a robust response from the market, evidenced by 127 confidentiality agreements signed from 29 states and 15 fully registered bidders. The auction winner was a first-time RealINSIGHT Marketplace buyer from out-of-state. The asset sold at 100% of reserve and closed in under 60 days—an outcome that can be otherwise difficult to achieve during a global pandemic with economic ramifications. The RealINSIGHT Marketplace team is pleased to have worked with the seller and brokerage team to complete this sale. 

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