Marcus & Millichap : Comfort Suites Near Indianapolis Airport Sells for $7.1 Million
February 03, 2023 at 09:59 am EST
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Comfort Suites Near Indianapolis Airport Sells for $7.1 Million
February 02, 2023
INDIANAPOLIS, Feb. 02, 2023- Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of Comfort Suites, a 70-room hotel in Indianapolis, Indiana. The three-story hotel sold for $7,100,000.
"This was a smooth transaction despite rising interest rates and economic uncertainty," said Scott Havericak, first vice president investments. "We executed an expedited CMBS loan defeasance for the seller, and the buyers are excited for the opportunity to own and operate the hotel in a growing airport market."
Havericak and Robert S. Hunter, investment specialists in Marcus & Millichap's Fort Lauderdale office, had the exclusive listing to market the property on behalf of the seller, Vinsar Hotels LLC. The buyer, Singh Estate LLC, was also procured by Havericak and Hunter. Josh Caruana, Marcus & Millichap's Broker of Record in Indiana, assisted in closing the transaction.
Comfort Suites is located at 2750 Fortune Cir. W. sitting directly off Interstate 465 and adjacent to Indianapolis International Airport. The hotel, totaling 84,506-square-feet, was built on a 1.94-acre site in 2009. Hotel amenities include a business center, fitness center, indoor pool, and complimentary breakfast.
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About Marcus & Millichap (NYSE: MMI)
Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. As of December 31, 2021, the company had 1,994 investment sales and financing professionals in 82 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting and advisory services to clients. Marcus & Millichap closed 13,255 transactions in 2021, with a sales volume of approximately $84.4 billion. For additional information, please visit www.MarcusMillichap.com.
Marcus & Millichap Inc. published this content on 02 February 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 03 February 2023 14:58:11 UTC.
Marcus & Millichap, Inc. is a brokerage company. The Company is specialized in commercial real estate investment sales, financing services, research, and advisory services. The Company also offers market research, consulting, and advisory services to its clients. The Company offers services to its clients by underwriting, marketing, selling, and financing commercial real estate properties in a manner that maximizes value for sellers, provides buyers with a diverse inventory of commercial properties, and secures competitive financing from lenders for borrowers. The Company divides its commercial real estate into four market segments: properties, private client market, middle market, and larger transaction market. The Company serves clients with one property, multiple properties, and large investment portfolios. The Companyâs investment brokerage and financing professionals serve private clients within the private client market segment.
MARCUS & MILLICHAP, INC. 
