Case Studies – Residence Inn Baltimore
Investment Overview
Total Cost
$31.0m
Debt
$20.7m
Equity
$10.3m
Equity IRR
40%
Equity Multiple
1.97
Keys
190
Cost per Key
$163,000
Investment Date
2004
Exit Date
2006
Hold Period (Months)
24
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Developed a 188 key high rise Residence Inn by Marriott at the Inner Harbor in
Baltimore, MD
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Sold the hotel at completion to a unsolicited bidder
26
1...,16,17,18,19,20,21,22,23,24,25 27,28,29,30,31,32,33,34,35,36,...42