Marriott-Franchised Hotel Trades to LLC
Marcus & Millichap finalized the sale of SpringHill Suites Houston 290, a 78-room hospitality property. Terms of the sale weren’t disclosed.
Houston-based Andrew B. Frosch and Louis Dan, Austin-based Allan Miller and Dallas-based Chris Gomes marketed the property on behalf of the seller, a limited liability company. The buyer, also an LLC, was secured and represented by Frosch and Miami-based Ahmed Kabani.
“This hotel presents a unique opportunity for the new owner to capitalize on a strong brand in a top 25 MSA,” said Frosch. “Although we are currently facing uncertain economic times, Marcus & Millichap played a crucial role in securing conventional financing for the buyer and navigating the challenges presented through the bankruptcy courts, Marriott franchising and the COVID-19 situation.”
Added Kabani, “The buyer, experienced in Hilton and Marriott branded properties in both Texas and Florida, saw upside in the asset and seized the opportunity.”
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span class=”connect-button”> Connect With Marcus & Millichap’s Kabani
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