Investment Overview
Lodging Partners has been retained by the owner to conduct a highly confidential and private sale of the Candlewood Suites Durham-RTP. This 122-room extended stay hotel is strategically located in one of the most economically dynamic and fastest-growing regions in the United States. Anchored by the Research Triangle, which is home to Duke University, UNC-Chapel Hill, and NC State, the Raleigh-Durham market benefits from a powerful combination of Tier-1 universities, global employers, top-ranked healthcare systems, and a highly educated workforce. These demand drivers support long-term residential demand as well as steady extended stay lodging needs from visiting professionals, relocating families, academic travelers, and medical guests.
Excellent Accessibility & Regional Connectivity
- Direct access to I-40, I-85, I-440, and I-540
- Less than 20 minutes from Raleigh-Durham International Airport (RDU), which offers 450+ daily flights to 62 nonstop destinations
- Anchored by Duke University, UNC-Chapel Hill, and NC State
- Over 174,000 students regionally, producing more than 65,000 graduates annually
- $15.1 billion in annual economic impact from RDU
- Strong infrastructure and planning support long-term regional growth
Value-Add Opportunity from an Institutional Seller
This asset is institutionally owned, offering a unique opportunity for hands-on ownership to unlock upside. Centralized management under institutional ownership has historically limited responsiveness to local market dynamics. Currently under absentee ownership, the property presents a clear opportunity for improved performance through active, professional oversight. A private operator can enhance results by optimizing staffing, implementing targeted rate strategies, and completing focused renovations.
Property Highlights
Well Suited for Residential Conversion
Every suite includes a full kitchen, and the studio and one-bedroom layouts closely mirror efficiency apartment configurations, allowing conversion to residential use with limited structural work, lower capital requirements, and a faster path to occupancy than new construction.
Candlewood Suites Sales Comps – Southeast Summary
Based on five confirmed sales from 2024–2025, Candlewood Suites properties traded with an average sale price of $12.6 million. On a per-key basis, assets sold between $131,000 and $157,000 per room, averaging approximately $143,000 per key. While pricing reflects the property’s added value as a ready-to-convert residential asset, the cost per unit remains well below new affordable housing construction, offering investors an efficient and immediate path to expanding housing supply.
Units Delivered Below New Construction Cost
Priced significantly below current new construction costs, the 122 existing units represent a per-unit cost well below that of new multifamily or affordable housing construction in the Durham market, while avoiding land acquisition, entitlement, and lengthy construction timelines. The properties offer the potential to deliver attainable housing in months rather than years, with limited structural work required and a per-unit basis well below the cost of new construction.
Guestroom Features & Amenities
- Studio and one-bedroom suite layouts with full kitchens
- Full-size refrigerator with icemaker, microwave, dishwasher, and stove
- On-site guest laundry and outdoor gazebo with gas grills
Unit Mix
- 93 Studio Suites (350 sqft)
- 24 One-bedroom Suites (525 sqft)
- 5 ADA – Accessible Suites (350 sqft)
The hotel benefits from proximity to over 49 restaurants within one mile, including Golden Corral, Waffle House, and local eateries such as Backyard BBQ Pit, Thai 55, and Chick-fil-A. Grocery options include Food Lion (walking distance), ALDI, and Lidl.
Location
Market Summary – Raleigh-Durham, NC
Innovation Economy & Strong Demographics
The Raleigh–Durham metro, commonly referred to as the Research Triangle, is home to over 1.4 million residents and is projected to grow by more than 25% in the next two decades. The area combines affordability, quality of life, and economic vibrancy, making it one of the top markets for business and population growth in the U.S.
Diverse Economic Drivers
- Technology & Innovation: Home to Red Hat (IBM), Cisco, Epic Games, and Lenovo
- Life Sciences: More than 600 life sciences companies employ over 30,000 people
- Healthcare: Duke Health, UNC Health, and WakeMed serve as major lodging demand drivers
- Manufacturing & Clean Tech: Over 350 firms in clean energy and smart grid technology
Higher Education & Talent Pipeline
Three Tier 1 research universities enroll over 174,000 students and graduate more than 65,000 each year. These institutions drive billions in research and year-round demand from faculty, visiting academics, and families.
Research Triangle Park (RTP)
As the largest research park in the U.S., RTP encompasses 7,000 acres, houses 200+ companies, and employs over 60,000 workers. It generates steady hotel demand from long-term consultants, training programs, and project teams.
Infrastructure & Air Travel
RDU International Airport continues to expand and enhances the region’s status as a key Southeastern business and leisure hub.
Photo Tour
ADVISORS
Brokerage team
