Market Screener | April 21, 2022
SAN ANTONIO, TX, April 21, 2022 - 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 Holiday Inn & Suites San Antonio Northwest, a 122-room hospitality property located in San Antonio, TX, according to Bruce E. Bentley III, regional manager of the firm's Austin office.
Allan Miller and Chris Gomes, investment specialists in Marcus & Millichap's Austin and Dallas offices, had the exclusive listing to market the property on behalf of the seller, a limited liability company. The buyer, an individual/personal trust, was procured by Miller and Gomes. Holiday Inn & Suites San Antonio Northwest is located at 5535 University Heights Blvd in San Antonio, TX.
"The upper-midscale property is situated in a prime location with easy access to multiple market demand generators," Miller pointed out. "The University of Texas San Antonio, Six Flags Fiesta Texas, and the RIM Shopping Center are all located within 5 miles of the property, a major asset that piqued the buyer's interest in the investment." To build on this, Gomes explained how "the attractive basis at a discount to replacement cost paired with the competitive location making this a lucrative addition to any investor's portfolio."
The Miller-Gomes Hotel Team of Marcus & Millichap has sold over 480 hotels across the nation. To date, this is the 26th hotel sale in the San Antonio MSA by the Miller-Gomes Hotel team. The Team currently has nearly 50 active listings across 12 states with 32 assets under contract.
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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.
