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HomeTowne Studios Salem & Spokane Valley 2 Hospitality Properties in Multiple Locations
Investment Highlights
- Extended-Stay Model: Stable cash flow driven by long-term guests and lower operating volatility
- Value-Add Opportunity: Potential to convert to residential units, enhance NOI through operational improvements and revenue optimization
- Attractive Pacific Northwest Markets: Exposure to Salem and Spokane’s growing and diversified economies
Executive Summary
CBRE Hotels, as exclusive advisor, is pleased to present the opportunity to acquire the fee simple interest in the HomeTowne Studios located in Salem, Oregon and Spokane, Washington, available individually or as a portfolio (the “Portfolio”, “Hotels”, “Assets”, or “Properties”).
Both Assets benefit from the resilient extended-stay lodging model, characterized by longer average lengths of stay, reduced operating costs, and stable occupancy profiles relative to traditional select-service hotels. The Properties cater to a diverse mix of demand, including workforce housing, government, healthcare, and project-based corporate demand, all of which have demonstrated consistent performance across economic cycles.
Strategically located within the growing Pacific Northwest markets of Salem and Spokane, the Properties are supported by strong regional economies, population growth, and diversified employment bases. Salem, as Oregon’s state capital, benefits from a stable government employment base, while Spokane serves as a key economic and logistics hub for Eastern Washington and the Inland Northwest, anchored by healthcare, education, and distribution sectors.
The Portfolio presents a compelling opportunity for investors to acquire cash-flowing extended-stay assets with upside potential through operational efficiencies, revenue management, potential brand repositioning, workforce housing or residential conversion. Additional value can be unlocked through targeted capital improvements and optimization of rate structures to align with current market dynamics. The Brand can be terminated for relatively minor liquidated damages. Currently corporate-managed from Florida, the Properties present immediate upside potential for an owner/operator to drive performance through hands-on management. Flexibility in the future positioning of the Hotels, with minimal PIP required by Red Roof and attractive key money packages and competitive PIPs are available from Choice and other extended stay brands.
Both Assets benefit from the resilient extended-stay lodging model, characterized by longer average lengths of stay, reduced operating costs, and stable occupancy profiles relative to traditional select-service hotels. The Properties cater to a diverse mix of demand, including workforce housing, government, healthcare, and project-based corporate demand, all of which have demonstrated consistent performance across economic cycles.
Strategically located within the growing Pacific Northwest markets of Salem and Spokane, the Properties are supported by strong regional economies, population growth, and diversified employment bases. Salem, as Oregon’s state capital, benefits from a stable government employment base, while Spokane serves as a key economic and logistics hub for Eastern Washington and the Inland Northwest, anchored by healthcare, education, and distribution sectors.
The Portfolio presents a compelling opportunity for investors to acquire cash-flowing extended-stay assets with upside potential through operational efficiencies, revenue management, potential brand repositioning, workforce housing or residential conversion. Additional value can be unlocked through targeted capital improvements and optimization of rate structures to align with current market dynamics. The Brand can be terminated for relatively minor liquidated damages. Currently corporate-managed from Florida, the Properties present immediate upside potential for an owner/operator to drive performance through hands-on management. Flexibility in the future positioning of the Hotels, with minimal PIP required by Red Roof and attractive key money packages and competitive PIPs are available from Choice and other extended stay brands.
Property Facts
| Sale Type | Investment | Individually For Sale | 0 |
| Status | Active | Total Building Size | 75,906 SF |
| Number of Properties | 2 | Total Land Area | 4.30 AC |
| Sale Type | Investment |
| Status | Active |
| Number of Properties | 2 |
| Individually For Sale | 0 |
| Total Building Size | 75,906 SF |
| Total Land Area | 4.30 AC |
Properties
| Property Name / Address | Property Type | Size | Year Built | Individual Price |
|---|---|---|---|---|
|
HomeTowne Studios Salem, OR
3535 Fisher Rd NE, Salem, OR 97305 |
Hospitality | 37,206 SF | 1998 | - |
|
HomeTowne Studios Spokane Valley
12803 E Sprague Ave, Spokane Valley, WA 99216 |
Hospitality | 38,700 SF | 1998 | - |
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HomeTowne Studios Salem & Spokane Valley
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