
Southern Indiana Hotel Sells at Contract Price
Marcus & Millichap has closed the sale of Best Western Plus French Lick, a 68-key hospitality property located in the southern Indiana city of French Lick. The hotel sold for $7,500,000.
“We had a competitive sales process with multiple strong offers,” said Scott Havericak, first VP investments. “Even though the capital markets were difficult to navigate, we closed the transaction at the contract price, and both buyer and seller were happy with the process and deal.”
Havericak and Robert S. Hunter, investment specialists in Marcus & Millichap’s Fort Lauderdale office, marketed the property for the undisclosed seller. The buyer, an Indiana-based limited liability company, was procured by Havericak and Hunter. Josh Caruana, Marcus & Millichap’s Broker of Record in Indiana, assisted in closing this transaction.
Built in 2015, Best Western Plus French Lick offers a range of amenities including a business center, indoor pool, fitness center, and complimentary breakfast.