ADD EXHB 13 ea029078101ex1-15b.htm PORTFOLIO VALUATION SUMMARY & APPRAISALS

Exhibit 1A-15B

 

NEWCO OFFERING - VALUATION

Portfolio Summary

 

    Property  Purchase Price   50% Estimated Closing Costs   Total Acquisition Costs   Cost per Key   Debt - Existing   Equity Required 
 A   Hyatt Place Hotel  $60,850,000   $152,125   $61,002,125   $369,710   $30,400,000   $30,602,125 
 A   Hyatt Place – Retail SF  $13,000,000   $201,500   $13,201,500   $287   $7,600,000   $5,601,500 
 B   Scholar Hotel State College  $21,700,000   $54,250   $21,754,250   $302,142   $8,902,500   $12,851,750 
 C   Marriott Courtyard State College  $20,500,000   $51,250   $20,551,250   $263,478   $9,908,983   $10,642,267 
 C   Marriott Residence Inn State College  $16,100,000   $40,250   $16,140,250   $199,262   $13,504,000   $2,636,250 
     TOTAL  $132,150,000   $499,375   $132,649,375        $70,315,483   $62,333,892 
                             Offering/Issuance Cost   $500,000 
 A   Hotel Appraisal - HVS -1/20/26. Retail Appraisal - Blair - 12/29/25; - Revised Debt - $28m - 80% Hotel/20% Retail    Total Equity Required   $62,833,892 
 B   Hotel Appraisal - HPI - 12/19/25    Dry Powder   $12,166,108 
 C   Marriott property values based on Mid Penn Bank Appraisals dated February 2, 2026    Target Equity Raise   $75,000,000 

 

Transfer Tax
Hyatt Place - HotelExempt
Hyatt Place - Retail3.0% - split
Scholar Hotel State CollegeExempt
Marriott Courtyard State CollegeExempt
Marriott Residence Inn State CollegeExempt