MEMPHIS, Tennessee—Marcus & Millichap introduced at present the sale of Hu. Resort, a 110-room lodge in Memphis, Tennessee.
Mitchell Presas, Skyler Cooper, Chris Gomes, and Allan Miller of Marcus & Millichap’s Miller-Gomes Resort Crew represented the native non-public purchaser within the transaction. Jody McKibben is Marcus & Millichap’s dealer of file in Tennessee.
“I totally loved working with Mitchell. He not solely labored diligently to safe the deal at what I consider have been truthful phrases for all events, however he additionally introduced a staff with intensive data and expertise,” stated Nick Patel, the client. “Their experience gave me confidence all through the method. Mitchell stayed on prime of each merchandise that arose throughout escrow and was at all times out there, permitting me to deal with closing the deal. I look ahead to working with the staff on future initiatives and would gladly advocate them to different lodge homeowners.”
Positioned at 79 Madison Ave. in downtown Memphis, the lodge occupies the previous Tennessee Belief Constructing, inbuilt 1905 and listed on the Nationwide Register of Historic Locations. Steps from Beale Avenue, the Mississippi River, and FedExForum, the lodge encompasses a rooftop bar, assembly areas, and a health middle.
“The Miller-Gomes Resort Crew of Marcus & Millichap’s Nationwide Hospitality Division was honored to advise on the negotiation of the Hu. Resort in downtown Memphis,” stated Mitchell Presas, senior affiliate. “Initially constructed as a financial institution constructing in 1905, the property was transformed right into a 110-room luxurious boutique lodge in 2002 and underwent important renovation and rebranding round 2018-2019. Listed on the Nationwide Register of Historic Locations since 1982, the lodge retains its conventional ornate and classical revival exterior. Beforehand marketed a number of occasions by one other nationally acknowledged firm, our staff efficiently procured an in-state non-public purchaser who offered extremely aggressive phrases. This actually showcases the facility of the Marcus & Millichap platform. We’re thrilled to see this distinctive historic asset attain its full potential for the local people and consider it is going to be a rewarding mission for the brand new homeowners.”
