Marcus & Millichap Seals the Deal on a $101 Million Sale of an 11-Property Hotel Portfolio

Marcus & Millichap has announced the sale of an 11-property Courtyard Hotel portfolio in seven states for $101 million.

The portfolio represents hotels in Illinois, Ohio, Alabama, Arkansas, Virginia, Kentucky, and Oklahoma. The sale was facilitated during a period of market uncertainty, with multiple buyers and lenders working together to meet the seller’s closing requirements.

Ebrahim Valliani, first vice president of investments in Marcus & Millichap’s Chicago Oak Brook office, represented the seller, Skyline Investments Inc. The buyers were procured with assistance from Chris Gomes, Allan Miller, and Michael Klar of the Miller-Gomes Hotel Team of Marcus & Millichap.

The properties that constitute the portfolio include Courtyard Chicago Arlington Heights South, Courtyard Chicago Deerfield, and Courtyard Rockford in Illinois; Courtyard Toledo Airport Holland and Courtyard Dayton South in Ohio; Courtyard Birmingham Hoover and Courtyard Huntsville University Drive in Alabama; Courtyard Manassas Battlefield Park in Virginia; Courtyard by Marriott Lexington North in Kentucky; Courtyard Little Rock West in Arkansas; and Courtyard Oklahoma City Airport in Oklahoma.

The brokers of record in the respective states were Steven Weinstock in Illinois, Michael Glass in Ohio, Steve Greer in Arkansas, Brian Hosey in Virginia, Eddie Greenhalgh in Alabama, Grant Fitzgerald in Kentucky, and Tim Speck in Oklahoma.