KENEDY, TX, March 20, 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 Super 8 by Wyndham Kenedy, a 61-room hospitality property located in Kenedy, Texas, according to Timothy A. Speck, regional manager of the firm’s Dallas office and broker of record for Texas and Oklahoma.
Mitchell Presas, an investment specialist in Marcus & Millichap’s Dallas office, had the exclusive listing to market the property on behalf of the seller, Mukesh Bhakta and his partners and was successful in creating a multiple offer scenario, which included an array of different buyer types, even after falling out of contract. This enabled Mr. Bhakta and his partners to maximize the value of their investment through a competitive bidding process.
“We want to thank Mitchell for doing a great job with all parties to make this sale happen,” Mukesh said. “[Mitchell] did a fantastic job managing all aspects of the transaction such as handling correspondence with the city, title company, and attorneys.”
The buyer, a private investor, was secured and represented by Presas. Chris Gomes, senior managing director, was also listed on the deal as a supporting broker alongside senior vice presidents Allan Miller and Skyler Cooper.
Super 8 by Wyndham Kenedy is located at 142 Park Place in Kenedy, Texas. The 61-room property was constructed in 2014 and situated on a 2.41-acre lot, just off Highway 181.
The Miller-Gomes Hotel Team of Marcus & Millichap has sold over 550 hotels across the nation since its inception. The team has over 50 active listings across 18 states with 24 assets under contract and 102 closings in 2022.
# # #
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.
