Auction
Frank R. Simon, Court Appointed Receiver is pleased to exclusively offer the opportunity for prequalified buyers to participate in the auction of the Hampton Inn Southgate / Detroit in June of 2022.
The starting bid for the auction is $8,400,000.00, with bidding to be in minimum increments of $10,000.00. If you are interested in participating in the auction please contact Frank Simon at (248) 720-0290 or fsimon@simonattys.com to obtain the bidding terms and requirements, prior to the auction. All interested bidders must be prequalified to bid at the auction. Out of town and international bidders encouraged. The auction will be live but Zoom and telephone attendance are acceptable and encouraged.
This auction is being overseen by the Wayne County Circuit Court in Case No. 21008132CB, titled as Wilmington Trust, National Association, as Trustee, for the Benefit of the Holders of COMM 2016DC2 Mortgage Trust Commercial Mortgage Pass-Through Certificates, Series 2016DC2, by and through CWCapital Asset Management LLC, solely in its capacity as Special Servicer v. Coldfoot, LLC, which appointed the Receiver. Pursuant to court order, no commission is being offered by the Seller/Receiver.
Location
The Hampton Inn is conveniently located off of I-75, minutes away from Taylor Sportsplex arena complex and less than 30 minutes from Detroit Metropolitan Airport, Henry Ford Museum of American Innovation, Dearborn Village, Comerica Park (home of the Detroit Tigers), Ford Field (home of the Detroit Lions), Little Caesar’s Arena (home of the Detroit Red Wings and Pistons Basketball), North American International Auto Show, Chevrolet Detroit Grand Prix, Detroit Jazz Festival, the Detroit Golf Club (host of the 2022 Rocket Mortgage Classic), MotorCity Casino, the Woodward Dream Cruise and Greenfield Village.
The City of Southgate offers a wide variety of dining options for the Hampton Inn’s guests from fast food to family dining or guests can travel less than 30 minutes to downtown Detroit to enjoy fine dining at such well known restaurants like the London Chop House, The Whitney or Prime & Proper, to name a few.
The Hampton Inn’s convenient location allows it to offer a complementary shuttle service to pickup/deliver guests to and from the Detroit Metropolitan Airport or other nearby venues, such as; Crystal Gardens, Armaldo’s Banquet Center and The Grecian Center.
Accommodations
Built in 2013, this amazing property, is a four story building, with approximately 73,436 square feet of space sitting on approximately 4.32 acres of land. The hotel has a brick exterior, with all interior corridors and centrally located elevators. The guest rooms are warmly decorated and each includes a flatscreen TV, microwave, coffee maker, and mini fridge. Some guest rooms/suites may also include a sofabed, whirlpool tub and wetbar. Other feature points of the hotel include:
- Indoor Pool, with Hot Tub/Jacuzzi;
- Fitness Center with ellipticals, treadmills and recumbent bikes;
- Three Meeting Areas / Event Halls / Board Room;
- 119 parking spaces (114 standard & 5 handicap);
- Outdoor Seating Area;
- Business Center with complimentary Wi-Fi;
- Guest Pantry / Guest Laundry;
- Breakfast Bar / Lounge;
- Fire suppression system; and
- Recently updated kitchen area.
Receivership / Management
The Receiver has engaged the services of Pyramid Hotel Group, one of the leading full-service hotel and resort management companies in the United States, to manage the hotel, with his oversight. The Receiver has been “hands on” since his appointment in August of 2021; offering his valuable insight, sharing his business expertise, and utilizing his contacts to help resolve any concerns at the hotel and keep operations running smoothly. The combined leadership of the Receiver and management of the Pyramid Hotel Group has increased the hotel’s revenue and the hotel is currently performing above its comp set and maintaining its fair share of the market, with its peek occupancy times being on the weekends.
As Is / Where Is
Receiver is selling the hotel “AS IS”, “WHERE IS” and “WITH ALL FAULTS” and specifically and expressly without reliance on any warranties, representations or guarantees, whether express, implied or statutory, of any kind, nature, or type whatsoever from or on behalf of Receiver.
Confidentiality Non-Reliance Statement
The Receiver has limited information relating to the operations of the Hampton Inn, which is available to interested bidders, upon the receipt of a fully executed Confidentiality / Non-Reliance Agreement. Please contact Frank Simon at (248) 720-020 or fsimon@simonattys.com to obtain a copy of the Confidentiality / Non-Reliance Agreement.
No financial information will be released to any interested bidders without receipt of a fully executed Confidentiality / Non-Reliance Agreement.
This offering memorandum and the information being provided by the Receiver has been prepared to provide summary, unverified financial and physical information to prospective bidders/purchasers of the hotel, and to establish only a preliminary level of interest in the hotel. The information provided by the Receiver and contained herein is not a substitute for a thorough due diligence investigation and the Receiver makes no warranty or representation as to the income and expenses of the hotel, the future projected financial performance of the hotel, the size and square footage of the hotel, the presence or absence of contaminating substances, PCBs or asbestos, the compliance with local, state and federal regulations, the physical condition of the improvements thereon or the financial condition of the hotel. All interested bidders must take appropriate measures to verify all of the information set forth herein and provided by the Receiver. Interested bidders shall be responsible for their costs and expenses of investigating the hotel and information provided.
The Hampton Inn is an operating hotel, with guests onsite 24/7. The Receiver respectfully requests that all interested bidders schedule a tour of the hotel through him or his staff, so that guests of the hotel are not disturbed during this process. The Hampton Inn prides itself on its guest services and does not want to disrupt the hotel’s operations or its guests comfort.
