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WINGATE BY WYNDHAM LAKE CHARLES CASINO AREA

Exclusive Listing

1731 W Prien Lake Rd, Lake Charles, LA 70605

For More Information:

newgenadv.com

Dinesh Dan Rama Ryan J. BodineT 602.648.2700C 602.478.9636

T 602.648.2703C 480.236.9918

[email protected] [email protected]

WINGATE BY WYNDHAM LAKE CHARLES CASINO AREA1731 W Prien Lake Rd, Lake Charles, LA 70605

Table of Contents

CONTENTS

CONFIDENTIALITY & DISCLAIMER

P R O P E R T Y I N F O R M A T I O N 3

F I N A N C I A L A N A L Y S I S 6

L O C A T I O N I N F O R M A T I O N 8

P R O P E R T Y I M P R E S S I O N S 1 3

S A L E C O M P A R A B L E S 1 7

A D V I S O R B I O S 2 1

All materials and information received or derived from JDS Real Estate Services in association with NewGen, Dinesh S Rama and its directors, officers, agents, advisors, affiliates and/or any third party sources are provided without representation or warranty as to completeness , veracity, or accuracy, condition of the property, compliance or lack of compliance with applicable governmental requirements, developability or suitability, financial performance of the property, projected financial performance of the property for any party’s intended use or any and all other matters.

Neither JDS Real Estate Services in association with NewGen, Dinesh S Rama and its directors, officers, agents, advisors, or affiliates makes any representation or warranty, express or implied, as to accuracy or completeness of the any materials or information provided, derived, or received. Materials and information from any source, whether written or verbal, that may be furnished for review are not a substitute for a party’s active conduct of its own due diligence to determine these and other matters of significance to such party. JDS Real Estate Services in association with NewGen, Dinesh S Rama will not investigate or verify any such matters or conduct due diligence for a party unless otherwise agreed in writing.

EACH PARTY SHALL CONDUCT ITS OWN INDEPENDENT INVESTIGATION AND DUE DILIGENCE.

Any party contemplating or under contract or in escrow for a transaction is urged to verify all information and to conduct their own inspections and investigations including through appropriate third party independent professionals selected by such party. All financial data should be verified by the party including by obtaining and reading applicable documents and reports and consulting appropriate independent professionals. JDS Real Estate Services in association with NewGen, Dinesh S Rama makes no warranties and/or representations regarding the veracity, completeness, or relevance of any financial data or assumptions. JDS Real Estate Services in association with NewGen, Dinesh S Rama does not serve as a financial advisor to any party regarding any proposed transaction. All data and assumptions regarding financial performance, including that used for financial modeling purposes, may differ from actual data or performance. Any estimates of market rents and/or projected rents that may be provided to a party do not necessarily mean that rents can be established at or increased to that level. Parties must evaluate any applicable contractual and governmental limitations as well as market conditions,vacancy factors and other issues in order to determine rents from or for the property.

Legal questions should be discussed by the party with an attorney. Tax questions should be discussed by the party with a certified public accountant or tax attorney. Title questions should be discussed by the party with a title officer or attorney. Questions regarding the condition of the property and whether the property complies with applicable governmental requirements should be discussed by the party with appropriate engineers, architects, contractors, other consultants and governmental agencies. All properties and services are marketed by JDS Real Estate Services in association with NewGen, Dinesh S Rama in compliance with all applicable fair housing and equal opportunity laws.

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PROPERTYINFORMATION


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Dinesh Dan Rama Ryan J. Bodine

T 602.648.2700C 602.478.9636

T 602.648.2703C 480.236.9918


OFFERING SUMMARYSale Price: $7,500,000

Assumable CMBS $6.6M+/-

Rooms 77

ADR $109.52

RevPar $75.46

Revenue $2,116,850

NOI $834,583

CAP Rate 11.5%

Revenue Multiplier 3.39

Price / Key $97,402

This Wingate by Wyndham is a 77 room interior corridorproperty located in the heart of the Lake Charles HotelCasino District. Located just 1 mile away from the L'AubergeCasino and Golden Nugget Casino Resort. The Casinos are amajor tourist destination attracting over four millionvisitors a year.

Oil and gas is another major industry that is contributing tothe unprecedented growth in the City. In all, there is $44billion worth of projects that are currently underdevelopment in the Lake Charles area with another $65billion currently in the development pipeline.

Acquiring the Wingate in Lake Charles presents anopportunity for a new owner to capitalize on this futuregrowth in a market.

PROPERTY OVERVIEW


Executive Summary

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SALE PRICE $7,500,000

LOCATION INFORMATION

Building Name Wingate by Wyndham Lake Charles Casino Area

Street Address 1731 W Prien Lake Rd

City, State, Zip Lake Charles, LA 70605

County/Township Calcasieu

BUILDING INFORMATION

Lot Size 1.19 Acres

APN Number 01125184A

Year Built 2010

Corner Property Yes

Free Standing 1

Elevator Yes, 1

Free Standing Yes

Framing Type Wood

Exterior Walls Stucco

Corridors Interior

PTAC Yes

ROOM MIX

Double Queens 39

Kings 27

Suites 5

ADA King 2

ADA Queen 2

TOTAL 77

PARKING & TRANSPORTATION

Surface Parking Yes

Airport & Area Shuttle Yes

UTILITIES & AMENITIES

PTAC Units GE

Door Lock Types Onity

Dryers 2, Huebsch - 75 lbs

Washers 2, B&C Technologies

Electric Entergy

Trash Waste Management

Water City of Lake Charles

Phone Sunlink

Internet Sunlink

Pool Yes - Exterior

Spa Yes - Interior

Business Center Yes

Meeting Space Yes

Pet Friendly Yes


Property Details

FINANCIALANALYSIS


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INCOME SUMMARY % OF TOTAL

Gross Income $2,116,850

EXPENSE SUMMARY % OF EXPENSES

Credit Card Fees $81,827 6.4 %Casual Labor $7,229 0.6 %Cable/Telephone $28,592 2.2 %Continental Breakfast $103,155 8.0 %Electricity $54,805 4.3 %Water/Trash $20,703 1.6 %Insurance $85,060 6.6 %Commission $63,161 4.9 %Office Expense $4,104 0.3 %Federal Withholdings $22,161 1.7 %Miscellaneous $10,542 0.8 %Medicare Withholdings $6,829 0.5 %Net Wages $403,798 31.5 %Social Security Withholdings $29,203 2.3 %State Withholdings $9,027 0.7 %Accounting $10,160 0.8 %Legal $10,000 0.8 %Repairs/Maintenance $37,538 2.9 %Shuttle $33,405 2.6 %Supplies $122,099 9.5 %Payroll Tax $43,482 3.4 %Property Tax $82,708 6.5 %Travel $1,668 0.1 %Utilities $11,003 0.9 %

Gross Expenses $1,282,267

Net Operating Income $834,583


Income & Expenses

LOCATIONINFORMATION


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ABOUT LAKE CHARLESLake Charles is the fifth - largest incorporated city in the state ofLouisianna, located on Lake Charles, Prien Lake, and the CalcasieuRiver. Founded in 1861 in Calcasieu Parish, it is a major industrial,cultural, and educational center in the southwest region of thestate.

As of the 2010 census, the population was 71,993. Lake Charles isconsidered a regionally significant center of petrochemical refining,gaming, tourism, and education - being home to McNeese StateUniversity and Sowela Technical Community College. Because ofthe lakes and waterways throughout the city, metropolitan LakeCharles is often referred to as the Lake Area.

Southwest Louisianna leads the nation with over $100 Billion inindustrial projects recently completed, underway, or announced. Atotal of $44 Billion worth of projects are currently in development -spurring significant economic growth.

MCKNEESE STATE UNIVERSITYMcKneese State University is a public university and was founded in1939. McNeese is part of the University of Louisianna System and isclassified as a Master's University. The selective admissionsuniversity consists of six colleges.

The main campus occupies 121 acres - which includes 68 mainbuildings. McNeese is the first university in the State of Louisiana tooffer a concentration in forensic chemistry, and is one of the firstschools in the nation to offer a concentration in terrorism,preparedness and security.

The College of Business is accredited by the Association of toAdvance Collegiate Schools of Business - a prestigious accreditationthat has only been awarded to 5% of the business schools in theworld. The College of Engineering is closely linked to the nearbypetrochemical industries and refineries through the Lake AreaIndustry Alliance/McNeese Engineering Partnership.


The City of Lake Charles

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GOLDEN NUGGET & L'AUBERGE CASINO GOLF RESORTThe Golden Nugget and the L'auberge Casino golf resort is the areas premier destination. Both resortshave over 2000 luxury rooms, 140,000 square feet of non-stop Vegas style slot machines, poker roomand table games, 36 holes of championship golf, and high end luxury shopping and dining. Bothresorts also host year around conferences - each having over 30,000 square feet of meeting space.

The casino resorts are the closest Vegas style gambling and experience in a 400 mile radius, attractingover 4 million visitors a year from Baton Rouge to San Antonio and Houston. The Resorts have broughta diversity of visitors and have contributed a great deal to the local economy, driving over $300 milliona year in revenues. In addition to casino gaming, the resorts also attract conventions and musicentertainment that have contributed significantly to the Wingate's revenue stream - offering guests anaffordable room rate with close proximity and free transportation to both of the resorts.


Golden Nugget & L'auberge Casino Resort

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SASOL - $12B CHEMICAL COMPLEXThe Lake Charles Chemical Complex has seven manufacturing unitssituated on 400 acres. Primary products that are produced areused in the cleaning and personal care markets to manufactureingredients for soaps, detergents, shampoos, cosmetics,pharmaceuticals, and enhanced oil recovery markets.

Sasol is constructing a world-scale petrochemical complex - a $12Billion complex which will triple the company's chemical productioncapacity in the U.S. and enable it to build on its strong positions inthe robust and growing markets.

At the core of the project is an ethane cracker that will produce 1.5million tons of ethylene every year, a core building block for plasticsand other industrial products. The complex will include six chemicalmanufacturing plants. 90 percent of the cracker's ethylene outputwill be converted into a diverse slate of commodity andhigh-margin specialty chemicals for markets.

NOTABLE CONSTRUCTION$15.2 BILLION - BECHTEL OIL, GAS AND CHEMICALS - liquefiednatural gas facility.

$1.6 BILLION - BIG LAKE FUELS BY GTX- world- scale methanolproduction facility.

$800 MILLION - ENTERGY GENERATION PROJECT FOR LAKECHARLES POWER STATION - a 994MW natural gas-fired,combined-cycle power plant being developed in the Westlakeregion of Calcasieu Parish, Louisiana.

$300 MILLION - ENTERGY LOUISIANA TRANSMISSION PROJECT

$44 BILLION - TOTAL AMOUNT OF PROJECTS THAT ARECURRENTLY UNDER CONSTRUCTION:


Petrochemical and Energy in Lake Charles

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Retailer Map

PROPERTYIMPRESSIONS


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Property Impressions

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SALECOMPARABLES


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HOLIDAY INN EXPRESS1698 Highway 190 | Eunice , LA 70535

$5,100,000Sale Price: 0Lot Size:

42,000 SFBuilding SF: $121.43Price PSF

68No. Rooms $75,000$ / Room

05/01/2016Closed:

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HAMPTON INN2634 Outfitter's Drive | Gonzales, LA 70737

$9,200,000Sale Price: 0.7Lot Size:

2009Year Built: 60,000 SFBuilding SF:

$153.33Price PSF 80No. Rooms

$115,000$ / Room 10/28/2015Closed:

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BEST WESTERN PLUS13600 Hartman Ln | Walker , LA 70785


40,950 SFBuilding SF: $112.33Price PSF

63No. Rooms $73,015$ / Room

11/30/2017Closed:

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TOWNEPLACE SUITES1009 Gould Drive | Bossier City , LA 71111


2009Year Built: 51,111 SFBuilding SF:

$161.41Price PSF 101No. Rooms

$81,683$ / Room 09/12/2016Closed:

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Sale Comps

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Ryan J. BodineDinesh Dan RamaT 602.648.2700 C 602.478.9636

T 602.648.2703C 480.236.9918


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SUBJECT PROPERTY PRICE# OFROOMS

PRICEPER ROOM

Wingate by WyndhamLake Charles Casino Area1731 W Prien Lake RdLake Charles, LA 70605

$7,500,000 77 $97,403

SALE COMPS PRICE# OFROOMS

PRICEPER ROOM CLOSE

Holiday Inn Express1698 Highway 190Eunice , LA 70535

$5,100,000 68 $75,000 05/01/2016

Hampton Inn2634 Outfitter's DriveGonzales, LA 70737

$9,200,000 80 $115,000 10/28/2015

Best Western Plus13600 Hartman LnWalker , LA 70785

$4,600,000 63 $73,015 11/30/2017

TownePlace Suites1009 Gould DriveBossier City , LA 71111

$8,250,000 101 $81,683 09/12/2016

PRICE# OFROOMS

PRICEPER ROOM

Totals/Averages $6,787,500 78 $87,019


Sale Comps Summary

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Ryan J. BodineDinesh Dan RamaT 602.648.2700 C 602.478.9636

T 602.648.2703C 480.236.9918


1731 W Prien Lake Rd | Lake Charles, LA 70605SUBJECT PROPERTY

11698 Highway 190Eunice , LA 70535

HOLIDAY INN EXPRESS 22634 Outfitter's DriveGonzales, LA 70737

HAMPTON INN 313600 Hartman LnWalker , LA 70785

BEST WESTERN PLUS

41009 Gould DriveBossier City , LA 71111

TOWNEPLACE SUITES


Sale Comps Map

ADVISORBIOS


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Arizona California New Mexico Texas1747 E Morten Avenue 5101 E La Palma Ave 500 Marquette Ave 1106 N State Hwy 360Suite 202 Suite 100-A Suite 1200 Suite 302Phoenix, AZ 85020 Anaheim Hills, CA 92807 Albuquerque, NM 87102 Grand Prairie, TX 75050

exclusive listing - loopnet · wingate by wyndham lake charles casino area exclusive listing 1731 w...

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