PEARSALL, TX, July 24, 2024 – 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 Studio 6 Suites Pearsall, TX, a 70-room hospitality property located in Pearsall, Texas, according to Bruce Bentley, regional manager of the firm’s Austin and San Antonio offices.
Matt Omansky, senior associate at Marcus & Millichap’s Austin office, secured the exclusive listing to represent the seller, a private investor, and coordinated closely with both the lender and the seller during the short sale process. Omansky successfully facilitated the transaction by also identifying and bringing in the buyer, another private investor. Chris Gomes, executive managing director of the firm’s Dallas office, and Allan Miller, senior managing director of the firm’s Austin office, were listed on the deal as supporting brokers.
The Studio 6 Suites Pearsall, TX is located at 604 S Lindsey Ln., Pearsall, Texas. Various common area amenities at the Property include an indoor heated pool with whirlpool hot tub, breakfast area, fitness center, meeting space, laundry facility, convenience store, and business center. The buyer identified an upside in rebranding potential and intends to reflag the property with another franchise.
The Miller-Gomes Hotel Team of Marcus & Millichap has sold over 600 hotels across the nation since its inception. The team has 90 active listings across 20 states, 22 hotels under contract, and closed 83 transactions in 2023.
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About Marcus & Millichap, Inc. (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, 2023, the company had 1,783 investment sales and financing professionals in over 80 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 7,546 transactions in 2023, with a sales volume of approximately $43.6 billion. For additional information, please visit www.MarcusMillichap.com.
