Marcus & Millichap Inc.
Marcus & Millichap Inc.
22/07/2024 | Press release | Distributed by Public on 23/07/2024 15:31
Marcus & Millichap Brokers Sale of Home2 Suites by Hilton in Wisconsin
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Marcus & Millichap Brokers Sale of Home2 Suites by Hilton in Wisconsin
July 22, 2024
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LA CROSSE, Wis., July 22, 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 Home2 Suites by Hilton, a 107-room hotel property located in La Crosse, Wisconsin.
"In the current challenging debt environment, the buyer group leveraged their relationship with a longstanding lender to secure favorable rates and close the deal without delays," said Ebrahim Valliani, first vice president investments. "Their ability to provide a surety of close allowed them to win the deal over other contenders."
Valliani, Michael Klar and Dan Danielak, investment specialists from Marcus & Millichap's Chicago Oak Brook and Los Angeles offices, exclusively listed the property on behalf of the seller. Valliani and Klar successfully procured the buyer. Both the buyer and seller are regional hotel ownership groups. Chris Gomes and Allan Miller, investment specialists from the Dallas and Austin offices, provided additional support for the transaction. Todd Lindblom, Broker of Record in Wisconsin, assisted in closing the transaction.
Located at 210 Jay Street, the Home2 Suites by Hilton La Crosse is situated on 1.20 acres with four floors of guest rooms. Built in 2016, the hotel features common area amenities including an indoor pool, business center and fitness center. The asset is less than 10 miles from La Crosse Regional Airport with other nearby demand generators including Riverside Park, Weber Center for the Performing Arts, the La Crosse Center across the way and the University of Wisconsin-La Crosse.
"In the current challenging debt environment, the buyer group leveraged their relationship with a longstanding lender to secure favorable rates and close the deal without delays," said Ebrahim Valliani, first vice president investments. "Their ability to provide a surety of close allowed them to win the deal over other contenders."
Valliani, Michael Klar and Dan Danielak, investment specialists from Marcus & Millichap's Chicago Oak Brook and Los Angeles offices, exclusively listed the property on behalf of the seller. Valliani and Klar successfully procured the buyer. Both the buyer and seller are regional hotel ownership groups. Chris Gomes and Allan Miller, investment specialists from the Dallas and Austin offices, provided additional support for the transaction. Todd Lindblom, Broker of Record in Wisconsin, assisted in closing the transaction.
Located at 210 Jay Street, the Home2 Suites by Hilton La Crosse is situated on 1.20 acres with four floors of guest rooms. Built in 2016, the hotel features common area amenities including an indoor pool, business center and fitness center. The asset is less than 10 miles from La Crosse Regional Airport with other nearby demand generators including Riverside Park, Weber Center for the Performing Arts, the La Crosse Center across the way and the University of Wisconsin-La Crosse.
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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.