501 Olive St St Louis, MO 63101

Offered is the fee simple interest in the 88-room Hotel Indigo Downtown St. Louis, Missouri. This historic asset, housed in the iconic LaSalle Building, a 13-story architectural landmark opened in 1909 and converted to a hotel in 2019, is being offered through a court-appointed receivership and traditional marketing process. The property is unencumbered by management and offered at a substantial discount to replacement cost, presenting a significant operational upside in repositioning the asset post-receivership, which has been in place since March 2023. The upper upscale Hotel Indigo branding can be retained via a long-term license agreement. Lucrative, transferrable tax incentives are in place, including a Community Improvement District (CID) property tax abatement and a Transportation Development District (TDD) sales tax rebate. Downtown St. Louis is set to benefit from significant investment through projects such as the $1.2 billion Gateway South Project, the $1.1 billion North-South Metrolink Line, and the $670 million redevelopment of the former Millennium Hotel property. City-wide event bookings for 2025 are pacing over 100,000 room nights ahead of 2024, with a projected total of approximately 273,000 expected.