TownePlace Suites is a newly constructed 56 room extended stay hotel in Aberdeen, South Dakota. The hotel is a result of several partnerships, from the partnership of the ownership group, to the lenders involved. Great Western Bank in Aberdeen and FDDC through the SBA 504 loan program joined forces to be able to offer the owners of TownePlace Suites an attractive financing package. The owners of TownePlace Suites, with the exception of one, are all residents and successful business owners in Aberdeen. In fact, the management of the property is overseen by an owner who specializes in hotel management. With this homegrown ownership and management group, the property is meticulously maintained and managed.
While the owners’ research resulted in a need for extended stay rooms in Aberdeen, the neighboring Sanford Aberdeen Medical Center construction completion around the same time also posed a perk to the business plan of this hotel. The TownePlace Suites is located just off of Highway 12 in Aberdeen, on the eastern edge of town. The timing of when TownePlace was completed aligned very well with other developments in this area of Aberdeen, which included a number of restaurants, retail shops, and miscellaneous services businesses.
TownePlace Suites is a brand of Marriot International. Each of the 56 non‐smoking rooms come equipped with a fully stocked kitchen area and complimentary high‐speed wireless internet access. When making reservations at the TownePlace, guests have the option to chose between three different floor plans, each featuring a separate living and sleeping area. TownePlace guests are welcome to enjoy the complimentary breakfast, fitness room, indoor pool and whirlpool, outdoor grilling or picnic area, and meeting room, as needed.
Great Western Bank and FDDC are grateful to be involved in the formation of the TownePlace Suites success story. It was a pleasure to work with this particular ownership group who were faced with several obstacles along the way, and always moved forward as a stronger unit with an even more clear vision. FDDC wishes the nothing the but the best for this property in the future!