Redeveloped Aloft Hotel
For Sale
Contact for pricing
Pending
136 E Market St, Indianapolis, IN 46204
Nearly complete Aloft by Marriott redevelopment of a historic office building in downtown Indianapolis, with Opportunity Zone benefits.
Property SizeContact for details
Days on Market142
Property Features for 136 E Market St
General Information
Standard status
Pending
Property subtype
Hospitality
Additional Details
Opportunity Zone
Yes
Listing Agency:
Red Swan Capital
Listed By:
Simon Herrmann · License #TX
Source:
Crexi
Added: Apr 11
Changed: Aug 13
Last Checked: Aug 28 at 9:48PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Red Swan Capital
Investment Insights
Based on property information with market context.
The offering is for investment in a nearly complete, brand-new redeveloped Aloft by Marriott hotel. The project involves redeveloping a historic office building into the Aloft brand, with the intent to recapitalize the hotel near construction completion. Everwood Hospitality Partners is seeking LP equity partners and will contribute additional GP equity through an Everwood affiliate.
The project is located at 136 E Market St in Indianapolis, Indiana, and it is in an Opportunity Zone. The offering is structured to allow investors to participate in the cash flows of the redeveloped Aloft, and investors may be able to invest at the development basis of the nearly complete project. Proceeds are intended to recapitalize the hotel at a competitive development basis.
The project materials also reference investor return targets of 20.1% IRR, 12% cash-on-cash, and a 2.16x equity multiple.
The project is located at 136 E Market St in Indianapolis, Indiana, and it is in an Opportunity Zone. The offering is structured to allow investors to participate in the cash flows of the redeveloped Aloft, and investors may be able to invest at the development basis of the nearly complete project. Proceeds are intended to recapitalize the hotel at a competitive development basis.
The project materials also reference investor return targets of 20.1% IRR, 12% cash-on-cash, and a 2.16x equity multiple.
Key Highlights
- Nearly complete Aloft by Marriott redevelopment in downtown Indianapolis of a historic office building
- LP equity offering seeks $11.3M for the project; an affiliate contributes $1.26MM GP equity
- Project is located in an Opportunity Zone for federal capital gains tax benefits
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
6,865
Businesses Nearby
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Business Placement
Demographics for 46204, IN
9,086
Population
6,582
Households
1.4
Avg Household Size
31
Median Age
61%
College-Educated
90%
High-School Grad
1.1 sq mi
ZIP Area
8,260
Density / Sq Mi
$88,081
Median Household Income
$69,226
Median Earnings
$1,686
Median Rent
$350,400
Median Home Value
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Frequently Asked Questions
What type of property is this?
Hotel - Nearly complete Aloft by Marriott redevelopment of a historic office building in downtown Indianapolis, with Opportunity Zone benefits.
Where is this hotel located?
The property is located at 136 E Market St Indianapolis, IN.
What are key features of this property?
This property features: Nearly complete Aloft by Marriott redevelopment in downtown Indianapolis of a historic office building; LP equity offering seeks $11.3M for the project; an affiliate contributes $1.26MM GP equity; Project is located in an Opportunity Zone for federal capital gains tax benefits
