Press Releases
Marcus & Millichap Announces Sale of Macon Courtyard by Marriott
November 08, 2023
MACON, Ga., November 8, 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 a Courtyard by Marriott hotel located in Macon, Georgia. The property sold for an undisclosed price.
Jack Davis, Chase Dewese, Joe Simpson, Joce Messinger and Chris Gomes, investment specialists with Marcus & Millichap, had the exclusive listing to market the property on behalf of the seller, NewcrestImage. The team collaborated with an outside brokerage company to source an out-of-state buyer, who utilized the 504-loan program.
“We were able to transact on this hotel by demonstrating the future cash flows and upside of the property,” says Davis. “This can be achieved through new management and completion of the new ownership’s property improvement plan.”
Courtyard by Marriott–Macon is located at 3990 Sheraton Drive. Featuring 108 guest rooms, the hotel was built in 1990 on 3.08 acres of land. It is positioned conveniently off Interstate 75, just six miles outside of downtown Macon.
Jack Davis, Chase Dewese, Joe Simpson, Joce Messinger and Chris Gomes, investment specialists with Marcus & Millichap, had the exclusive listing to market the property on behalf of the seller, NewcrestImage. The team collaborated with an outside brokerage company to source an out-of-state buyer, who utilized the 504-loan program.
“We were able to transact on this hotel by demonstrating the future cash flows and upside of the property,” says Davis. “This can be achieved through new management and completion of the new ownership’s property improvement plan.”
Courtyard by Marriott–Macon is located at 3990 Sheraton Drive. Featuring 108 guest rooms, the hotel was built in 1990 on 3.08 acres of land. It is positioned conveniently off Interstate 75, just six miles outside of downtown Macon.
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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.
