Marcus & Millichap recently completed the sale of a portfolio of 11 Courtyard Hotels located in Illinois, Ohio, Alabama, Arkansas, Virginia, Kentucky and Oklahoma for a total price of $101 million. The properties included in this portfolio are Courtyard Chicago Arlington Heights South and Deerfield in Illinois; Courtyard Rockford; Toledo Airport Holland and Dayton South in Ohio; Birmingham Hoover and Huntsville University Drive in Alabama; Manassas Battlefield Park in Virginia; Lexington North Marriott Hotel & Suites by Marriottin Kentucky ; Little Rock Westin Arkansas ;and Oklahoma City Airport.
According to Ebrahim Valliani , first vice president investments at Marcus & Millichap’s Chicago Oak Brook office,”Despite the current market uncertainty , we were able to successfully connect multiple buyers with their respective lenders to fulfill all closing requirements for the seller. This was achieved with minimal contingencies while also securing non-refundable earnest money.”
The brokers who represented Marcus & Millichap during this transaction include Steven Weinstock (Illinois), Michael Glass (Ohio), Steve Greer (Arkansas), Brian Hosey (Virginia), Eddie Greenhalgh(Alabama) Grant Fitzgerald(Kentucky)and Tim Speck(Oklahoma).
