Press Releases
Marcus & Millichap Arranges the Sale of a 68-Room Hotel for $7.5 Million
May 05, 2023
FRENCH LICK, Ind., May, 5 2023 – 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 Best Western Plus French Lick, a 68-room hospitality property located in French Lick, Indiana. The hotel sold for $7,500,000.
“We had a competitive sales process with multiple strong offers,” said Scott Havericak, first vice president 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, had the exclusive listing to market the property on behalf of the seller. The buyer, an Indiana-based limited liability company, was also procured by Havericak and Hunter. Josh Caruana, Marcus & Millichap’s Broker of Record in Indiana, assisted in closing this transaction.
Best Western Plus French Lick is located at 613 Arnold F Habig Blvd. and features 68 rooms. Built in 2015, the three-story hotel offers a range of amenities including a business center, indoor pool, fitness center, and complimentary breakfast.
“We had a competitive sales process with multiple strong offers,” said Scott Havericak, first vice president 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, had the exclusive listing to market the property on behalf of the seller. The buyer, an Indiana-based limited liability company, was also procured by Havericak and Hunter. Josh Caruana, Marcus & Millichap’s Broker of Record in Indiana, assisted in closing this transaction.
Best Western Plus French Lick is located at 613 Arnold F Habig Blvd. and features 68 rooms. Built in 2015, the three-story hotel offers a range of amenities including a business center, indoor pool, fitness center, and complimentary breakfast.
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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.
