Marcus & Millichap Declares Sale of Courtyard by Marriott in Albany, Georgia
ALBANY, Georgia—Marcus & Millichap equipped this day the sale of an 84-room Courtyard by Marriott situated in Albany, Georgia.
“The client, a New York-based mostly mostly investment agency, sought a excessive price of return in a growing Southeast market so as to add to its portfolio of hospitality resources,” mentioned McLean Hicklin, senior director of investments. “This is a gargantuan example of capital migration transferring down the Jap Seaboard.”
Hicklin and Robert Hunter, in association with John Leonard, Marcus & Millichap’s broker of sage in Georgia, completely marketed the property on behalf of the seller, HVC Hospitality, and procured the patron, Jacobs Valid Property Advisors LLC.
The three-sage property used to be in-built 2004 and is situated appropriate off U.S. Highway 82. The resort just now no longer too lengthy in the past underwent more than $3.25 million in renovations. Facilities encompass a enterprise center, gym, meeting place, convenience store, an on-place of residing restaurant and bar, and an exterior pool. The resort is approach Southwest Georgia Regional Airport, Albany Explain University, and Marine Corps Logistics Nasty Albany, as smartly as Phoebe Putney Memorial Scientific institution and Albany Mall.
