Press

Marcus & Millichap brokers sale of Holiday Inn Express, TownePlace in Waco, Texas

Posted on September 13, 2017 by Elliott Mest in Hotel Management

Marcus & Millichap, a commercial real estate investment services firm with offices throughout the United States and Canada, sold a two-property hospitality portfolio in Waco, Texas. The properties are a 120-room Holiday Inn Express & Suites and a 93-room TownePlace Suites. The terms of the sale were not released.

 

“The portfolio is composed of newer assets with stabilized cash flows and long-term franchise agreements,” Chris Gomes, SVP investments in Marcus & Millichap’s Dallas office, said in a statement. “Located within the growing South Waco submarket, the two properties are well positioned to provide new ownership with a long-term, steady income stream.”

Allan Miller, first SVP investments, joined Gomes and Joseph Jaques in representing Supreme Bright Waco II and Waco Lodging, sellers of the Holiday Inn Express & Suites and TownePlace Suites, respectively. Gomes and Miller procured the buyer, a joint venture between Dallas-based Atlantic Hotels Group and Civitas Capital Group.

TownePlace Suites is a four-story, 93-unit, all-suite extended-stay hotel constructed in 2016. The Holiday Inn Express & Suites is a four-story, 120-room, limited-service hotel built in 2014. Both assets are located near the intersection of North Interstate Highway 35 and Highway 6 near area attractions, including Baylor University, McLane Stadium, the Cameron Park Zoo, the Hawaiian Falls Waco waterpark, the Dr. Pepper Museum, the Texas Sports Hall of Fame, Riverbend Ballpark and Magnolia Market at the Silos.

Source: Hotel Management

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Marcus & Millichap Arranges Sale of 54-Room Hotel in College Station

Posted on September 7, 2017 by Taylor Williams in REBusinessOnline

Comfort Suites Texas Avenue College Station totals 54 rooms.

 

COLLEGE STATION, TEXAS — Marcus & Millichap has arranged the sale of Comfort Suites Texas Avenue College Station, a three-story, 54-room hotel located at 2313 Texas Ave. South in College Station. Steve Swenholt, Allan Miller and Chris Gomes of Marcus & Millichap represented the seller and procured the buyer, both of which are private investors.

 

 

Source: REBusinessOnline

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M&M Arranges Sale of 100-Room Ramada Hotel in Plano

Posted on August 17, 2016 by Haisten Willis in Texas
PLANO — Marcus & Millichap has arranged the sale of Ramada Limited Plano, a 100-room hotel located in Plano. Chris Gomes and Joseph Jaques of Marcus & Millichap’s Dallas office, along with Allan Miller of the firm’s San Antonio office, marketed the property on behalf of the seller, a limited liability company. Gomes and Miller procured the buyer, a private investor. Ramada Limited Plano is located at 621 Central Parkway E., near Park Boulevard. Built in 1987, the limited service, interior corridor hotel is situated on 1.8 acres. The property features an outdoor swimming pool, business center, breakfast area and meeting space.

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M&M Arranges Sale of 68-Room Holiday Inn Express in Metro Dallas

Posted on June 17, 2016 by Haisten Willis in Hospitality, Texas

Holiday Inn Express Ennis Main

The Holiday Inn Express & Suites is a 68-room hotel located in the Dallas suburb of Ennis.

ENNIS, TEXAS — Marcus & Millichap has negotiated the sale of Holiday Inn Express & Suites Ennis, a 68-room hotel located in the Dallas suburb of Ennis. Chris Gomes of Marcus & Millichap’s Dallas office, Allan Miller of the firm’s San Antonio office and Skyler Cooper of the firm’s Houston office marketed the property on behalf of the seller, a limited liability company. Gomes and Miller also procured the buyer, a private investor. Holiday Inn Express & Suites Ennis is located at 601 N. Sonoma Trail, near I-45 and Highway 34. Built in 2008, the four-story, limited service hotel is situated on 2.5 acres. Amenities at the hotel include an indoor swimming pool and hot tub.

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M&M Arranges Sale of Hotel in Wichita Falls

Posted on December 9, 2015 by Haisten Willis in Hospitality, Texas

marcus-millichap-wichita-falls

WICHITA FALLS, TEXAS — Marcus & Millichap has arranged the sale of MainStay Suites, a 90-room hospitality property located in Wichita Falls. Chris Gomes and Skyler Cooper of Marcus & Millichap’s Dallas office, along with Allan Miller of the firm’s San Antonio office, marketed the property on behalf of the seller, a private investor. Cooper, Gomes and Miller also procured the buyer, a private investor. MainStay Suites is located at 1917 Elmwood Ave. N., just east of Kemp Boulevard. Constructed in 1999 and renovated in 2014, the extended stay hotel is situated on 1.9 acres. The hotel offers meeting space and high-speed wireless Internet access throughout the common space and in guest rooms. Additional property amenities include complimentary breakfast, free newspapers, guest laundry facilities and free guest parking. Recreational amenities at the hotel include an on-site fitness center and a business center.

Source: RE Business Online

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M&M Arranges Sale of 122-Room Holiday Inn in San Antonio

Holiday-Inn-San-Antonio-Northwest

The hotel is located at 5535 University Heights near I-10 and Loop 1604, two miles from the University of Texas at San Antonio and three miles from Six Flags Fiesta Texas.

SAN ANTONIO — Marcus & Millichap has arranged the sale of the 122-room Holiday Inn San Antonio Northwest. Allan Miller and Chris Gomes of the firm’s Dallas office represented the seller. Marcus & Millichap’s National Retail Group procured the buyer. Both buyer and seller are Texas-based private investment groups. The hotel is located at 5535 University Heights near I-10 and Loop 1604, two miles from the University of Texas at San Antonio and three miles from Six Flags Fiesta Texas. Constructed in 2012, the Holiday Inn San Antonio Northwest is a four-story interior-corridor, full-service hotel.

External Source: RE Business Online

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Marcus & Millichap Arranges Sale of 146-Room Courtyard by Marriott in Dallas

Posted on by in ,

Courtyard-Dallas-LBJ-at-Josey

The Courtyard Dallas-LBJ at Josey is a 146-room hotel with a long-term franchise agreement.

DALLAS — Marcus & Millichap has arranged the sale of The Courtyard Dallas-LBJ at Josey, a 146-room hotel with a long-term franchise agreement. Chris Gomes of Marcus & Millichap’s Dallas office, along with Allan Miller of the firm’s San Antonio office, represented the seller and procured the buyer, both Dallas-based private investment groups. The three-story concrete structure was built in 1986 and went through renovations and upgrades in 2014 and 2015, including the addition of modern amenities and finishes throughout. Common areas include an on-site restaurant with bar, sundry shop, fitness center and two event rooms with a total of 1,248 square feet of event space.

Source: RE Business Online

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Marcus & Millichap Closes Sale of Dallas Hotel

Marcus & Millichap recently arranged the sale of a 146-key Marriott-flagged select service hotel located at 2930 Forest Lane in Dallas.

The Courtyard Dallas-LBJ at Josey

The Courtyard Dallas-LBJ at Josey is conveniently located off interstates 35 and 635 and is close to the DART rail system, Dallas Love Field Airport and the Dallas/Fort Worth International Airport. The three-story hotel was built in 1986 and went through renovations in 2014 and 2015, including upgrades throughout the property and additional amenities.

Chris Gomes, vice president investments in Marcus & Millichap’s Dallas office, and Allan Miller, vice president investments in the firm’s San Antonio office, represented the seller of The Courtyard Dallas-LBJ at Josey and procured the buyer.

“The Texas economy is still growing at a solid pace and travel volume remains elevated, supporting high hotel occupancy and respectable improvement in revenue measures,” said Gomes in a prepared statement. “The Dallas hospitality property market is well positioned for further gains in all key performance metrics in the foreseeable future.”

The Courtyard Dallas-LBJ at Josey offers a range of amenities for guests such as on-site restaurant with bar, sundry shop, fitness center and two event rooms with a total of 1,248 square feet of event space.

Source: Commercial Property Executive

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Marcus & Millichap sells Houston Holiday Inn

Marcus & Millichap sold a two-building, 109-room Holiday Inn Express Hotel & Suites in Houston. The terms of the sale were not released.

Jake Gaddy, senior associate and Steve Swenholt, associate, both in Marcus & Millichap’s Austin office, represented the seller, a Houston-based developer. Chris Gomes, VP investments in the firm’s Dallas office, along with Allan Miller, VP investments in San Antonio, represented the buyer, a Dallas-based private client.

Built in 1999 and converted into a Holiday Inn Express & Suites in early 2012, the three-story hotel is located in North Houston at 125 Airtex Drive, five miles from George Bush Intercontinental Airport.

Amenities include an outdoor pool and whirlpool, fitness center, on-site guest laundry, business center, meeting room and complimentary hot breakfast. All suites and guest rooms feature flat-screen cable television, microwave oven, mini-refrigerator, coffee maker, sofa-bed, iron with ironing board and work desks.


External Source : Hotel Management

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MARCUS & MILLICHAP ARRANGES THE SALE OF A 51-ROOM HOSPITALITY PROPERTY

image011CUERO, TX, November 25, 2014 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, today announced the sale of Executive Inn Express & Suites, a 51-room hospitality property located in Cuero, Texas, according to J. Michael Watson, Vice President/Regional Manager of the firm’s San Antonio office.
Chris Gomes, Allan Miller and Robert Arzola, investment specialists in Marcus & Millichap’s Austin, Dallas and San Antonio offices and members of the Miller-Gomes Hotel Team, had the exclusive listing to market the property on behalf of the seller, a private investor. The buyer, a private investor, was also secured and represented by Chris Gomes, Allan Miller and Robert Arzola.
Executive Inn Express & Suites, located in the Eagle Ford Shale, has benefitted greatly from the energy boom. “Cuero, Texas still appeals to many hotel investors looking for assets in Oil and Gas Markets despite recent fluctuations in oil prices. DeWitt County has been a consistent performer throughout the boom,” says Robert Arzola. This sale represents the 20th hotel transaction the Miller Gomes Team of Marcus & Millichap has closed in the Eagle Ford Shale and Permian Basin markets.

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MARCUS & MILLICHAP ARRANGES THE SALE OF A 57-ROOM HOSPITALITY PROPERTY

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FREDERICKSBURG, TX, September 24, 2014 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, today announced the sale of Comfort Inn & Suites Fredericksburg, a 57-room hospitality property located in Fredericksburg, TX, according to J. Michael Watson, Vice President/Regional Manager of the firm’s San Antonio office.

Allan Miller and Chris Gomes, investment specialists in Marcus & Millichap’s San Antonio and Dallas offices, had the exclusive listing to market the property on behalf of the seller, a private investor.  The buyer, a limited liability company, was also secured and represented by Allan Miller and Jake Gaddy of Marcus & Millichap’s Austin office.

“Fredericksburg is a very good hotel market that is off the investor radar.” says Miller. “Located over an hour drive away from a major city, the Fredericksburg lodging market has historically performed well with steady year-over-year growth.”

Comfort Inn & Suites Fredericksburg is located at 723 South Washington Street in Fredericksburg, TX.  Built in 2004, the hotel has common area amenities such as an outdoor pool, hot tub and exercise facility. Room amenities include a microwave and refrigerator and the hotel has four Jacuzzi suites.

About Marcus & Millichap (NYSE: MMI)

With over 1,300 investment professionals located throughout the United States and Canada, Marcus & Millichap is a leading specialist in commercial real estate investment sales, financing, research and advisory services. Founded in 1971, the firm closed over 6,600 transactions in 2013 with a value of approximately $24 billion. The company has perfected a powerful system for marketing properties that combines investment specialization, local market expertise, the industry’s most comprehensive research, state-of-the-art technology, and relationships with the largest pool of qualified investors. To learn more, please visit: www.MarcusMillichap.com.

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Marcus & Millichap sells two hotel properties in Denton, Texas

From Hotel Management

holiday

Marcus & Millichap sold two hospitality properties in Denton, Texas. They are the 88-room La Quinta Inn & Suites and the 92-room Holiday Inn Express & Suites.

The properties include an 88-room La Quinta Inn & Suites and a 92-room Holiday Inn Express & Suites. Chris Gomes, VP investments in Marcus & Millichap’s Dallas office, and Allan Miller, VP investments in the firm’s San Antonio office, represented the seller, a Dallas-based company. The buyer is also based in Dallas.

Full article…

Marcus & Millichap sells $11.8M four-property hotel portfolio

From Hotel Management

Marcus & Millichap sold a four-property portfolio of La Quinta Inns. Two of the hotels are located in St. Louis, Mo., one is in Tallahassee, Fla., and one is in Knoxville, Tenn. All but one was rebranded immediately at sale and the fourth will be rebranded in two to three months. The portfolio sold for $11,800,000.

Full article…

 

Chris Gomes named Power Broker 2014 by D Magazine in DFW

FROM D CEO MARCH 2014

Methodology: We asked leaders at North Texas firms to tell us which brokers generated the most revenue for their companies in 2013. The number of names they’re allowed to submit is based on their total number of DFW brokers (generally, 20 percent). This year, executives at 62 firms, employing 1,464 brokers, participated. The Power Brokers are presented in alphabetical order, by areas of specialty.

Full article…

Austin Hampton Inn Hotel Sale Arranged by Marcus & Millichap

By Anca Gagiuc, Associate Editor

The Hampton Inn hotel located at 4141 Governors Row in Austin has changed owners. Marcus & Millichap Real Estate Investment Services arranged the sale of the six-story 123-room hotel, without disclosing the terms of the sale.

Full article…

 

D CEO’s Power Brokers-Class of 2013

Expert: Hospitality industry ‘back on track’ in North Texas – Dallas Business Journal-Sep 26,2012

Frisco hotel sold out of foreclosure – Dallas News-Apr 26, 2012

Marcus & Millichap sells Lender REO hotel – RED News-Nov 11, 2011