In effort to further diversify NexGen’s portfolio, NexGen acquired the 74-key Hampton Inn and Suites Hotel in Greeley, Colorado. The acquisition offered a favorable value proposition with acquisition through the Ten-X auction platform and ability to defease burdensome CMBS debt placed on the property by the seller. Shortly after closing, NexGen modernized the asset with the completion of Hilton's Product Improvement Plan (PIP) at a cost of approximately $2.5M. With completion, NexGen received a new 15-year franchise agreement with Hilton. NexGen intends to hold the hotel for cashflow to benefit from its continued outperformance of the competitive set.