ALBANY, Georgia—Marcus & Millichap introduced as we speak the sale of an 84-room Courtyard by Marriott situated in Albany, Georgia.
“The customer, a New York-based funding agency, sought a excessive charge of return in a rising Southeast market so as to add to its portfolio of hospitality belongings,” stated McLean Hicklin, senior director of investments. “It is a nice instance of capital migration transferring down the Japanese Seaboard.”
Hicklin and Robert Hunter, in affiliation with John Leonard, Marcus & Millichap’s dealer of file in Georgia, completely marketed the property on behalf of the vendor, HVC Hospitality, and procured the client, Jacobs Actual Property Advisors LLC.
The three-story property was inbuilt 2004 and is situated simply off U.S. Freeway 82. The resort just lately underwent greater than $3.25 million in renovations. Facilities embrace a enterprise middle, health middle, assembly house, comfort retailer, an on-site restaurant and bar, and an out of doors pool. The resort is close to Southwest Georgia Regional Airport, Albany State College, and Marine Corps Logistics Base Albany, in addition to Phoebe Putney Memorial Hospital and Albany Mall.
