Tarleton State University Hotel Ground Lease Opportunity

Tarleton State University Hotel Ground Lease Opportunity

The Texas A&M University System (A&M System) is soliciting proposals on behalf of Tarleton State University (Tarleton) for the selection of a real estate developer to enter into a long-term ground lease for the development of a full-service hotel, with beds and meeting space to meet NCAA Division I travel requirements, to be located in Stephenville, Texas. Depending on the financing proposed, the A&M System will either enter into the ground lease directly with the developer or with a nonprofit entity that will contract with the developer. Proposals are due by 2:00 PM Central Time on February 2, 2024, and a pre-proposal conference is scheduled for January 3, 2024. The A&M System will evaluate the proposals based on the developer's qualifications, experience, financial capability, and the proposed terms of the ground lease, which may include a base rent and/or profit sharing component. The developer will be required to comply with all applicable laws and regulations, including obtaining necessary surveys, environmental assessments, and any required archaeological surveys prior to construction.

The ground lease will be for a preferred term not to exceed 30 years, and the A&M System will have a right of first offer, right of first refusal, and option to purchase the improvements at any time during the lease. The solicitation does not specify any set-aside designations or restrictions on the types of organizations that can respond, and there is no information provided about any incumbent vendors or current contractors. The potential award value or budget range is also not disclosed.