Hotels Complete Sales in the South

NATIONAL REPORT—Marcus & Millichap, HREC and Hunter Hotel Advisors have all completed hotel sales. Here’s a closer look at the deals in Texas, Oklahoma and Florida:

Marcus & Millichap Arranges Sale of Five-Property Hospitality Portfolio
Marcus & Millichap has completed the sale of a five-property hotel portfolio in Texas and Oklahoma. The properties sold for a total of $36,185,000. Allan Miller and Chris Gomes, senior managing director investments in the firm’s Dallas office, are the principals of the Miller-Gomes Hotel Team of Marcus & Millichap. Miller and Gomes represented the seller, KJ Properties LLC, and procured the buyer, a private, Texas-based real estate and investment firm. The properties include the following:

  • Candlewood Suites Midland, 113 rooms in Midland, TX
  • Candlewood Suites Lawton, 113 rooms in Lawton, OK
  • Candlewood Suites McAlester, 89 rooms in McAlester, OK
  • Candlewood Suites Bartlesville East, 89 rooms in Bartlesville, OK
  • Candlewood Suites San Antonio, 113 rooms in San Antonio

HREC Arranges Sale of Hilton San Antonio Airport
HREC Investment Advisors has arranged the sale of the 384-room Hilton San Antonio Airport located in San Antonio. Presidian Hotels has been retained to manage the hotel. The marketing, negotiations and sales process were led by Mike Armstrong, principal in the San Diego office, and Arnold Armstrong, an affiliate broker in Texas. The Hilton is close to the San Antonio International Airport, the North Star Mall, Downtown and the River Walk.

Hunter Hotel Advisors Completes Sale of TownePlace Suites by Marriott Fort Lauderdale Weston
Hunter Hotel Advisors has arranged the sale of the TownePlace Suites by Marriott Fort Lauderdale Weston to GB Companies LLC. The seller is an institutional client. Trey Scott and Shamir Patel led the Hunter team in the valuation and sale of the property. This is the 14th hotel the firm has sold for this institutional client this year. The hotel is located in Weston, FL, close to shopping and restaurants, the Cleveland Clinic, several large employers located in the submarket and Everglades National Park.