TALLAHASSEE, FL, July 12, 2017 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, today announced the sale of the Country Inn & Suites, a 60-room limited-service hotel located in Tallahassee, Florida, according to Ari Ravi, regional manager of the firm’s Tampa office.
Jonathan S. Ruprai, senior director of the firm’s National Hospitality Group in Marcus & Millichap’s Tampa office, represented the seller and secured the buyer. “Due to a longstanding relationship with both the seller and buyer, we were able to structure a creative deal that was beneficial to both parties. The buyer plans on repositioning the hotel to an assisted living facility,” says Ruprai.
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About Marcus & Millichap (NYSE: MMI)
With over 1,700 investment sales and financing professionals located throughout the United States and Canada, Marcus & Millichap is a leading specialist in commercial real estate investment sales, financing, research and advisory services. Founded in 1971, the firm closed over 9,000 transactions in 2016 with a value of approximately $42.3 billion. The company has perfected a powerful system for marketing properties that combines investment specialization, local market expertise, the industry’s most comprehensive research, state-of-the-art technology, and relationships with the largest pool of qualified investors. To learn more, please visit: www.MarcusMillichap.com