(Raleigh, NC) – Under the leadership of Don Walston and Sanjay Mundra, SVN|Hotels has announced the sale of The TownePlace Suites by Marriott at University Research Park on Research Drive in Charlotte, NC. The Kayak Group acquired the property on July 18, 2018 for $7.25 million.
SVN|Hotels, a nationwide hotel brokerage company, exclusively represented the seller and handled the sale of the property.
“We were extremely pleased with the entire transaction process, as it was professionally handled by the dedicated team at SVN|Hotels, ” said Doyle Parrish, CEO of Summit Hospitality. “The seasoned hotel professionals of SVN Hotels were always accessible, and they offered transparent, unbiased advice, resulting in a successful transaction with a very good ROI.”
Sanjay Mundra, Bryan Robbins and Kevin Mishra led the SVN|Hotels team on this transaction.
The TownePlace Suites is a 96 room, 3 story extended hotel centrally located between Charlotte and Concord North Carolina along interstate 85 and offers comfortable accommodations for all length of stays. This Charlotte hotel is located in the heart of Charlotte University Research Park, only minutes from UNC Charlotte, Charlotte Motor Speedway, zMAX Dragway, Concord Mills, PNC Music Pavilion, Uptown Charlotte, NASCAR Hall Of Fame, Bank of America Stadium (home of the Carolina Panthers), and the Spectrum Center (home of the Charlotte Hornets). Businesses in the area include EPRI, Red Ventures, Wells Fargo, IBM, TIAA, Merck, AON Hewitt, Electrolux, UNCC, AT&T, Enovia, Solectron, Mckesson, Bellsouth, Verizon, Convergys, Cognizant and Allstate, Dai Nippon Printing, Enterprise, Hertz, Synechron.
For more information about SVN|Hotels, visit www.svnhotels.com, or call 919-789-5215.
SVN|HotelsSM offers a variety of hotel investment services including brokerage, valuation and advisory, acquisition strategy and advice, disposition implementation, access to capital markets and franchise advice and relations. The seasoned hotel professionals of SVN|Hotels know the best way to meet the needs of the market is to be easily accessible, knowledgeable, responsive and transparent. Our top priority is to provide clients transparent, unbiased advice that enables them to achieve the greatest return on their investment while at the same time, incurring the lowest possible risk. SVN|Hotels offers a national reach with local expertise across all aspects of the hospitality spectrum. With offices in more than 21 cities strategically located throughout the United States, and more than 35 seasoned hospitality professionals with regional market knowledge, SVN|Hotels understands the specific factors which impact the acquisition and disposition of hospitality properties from coast-to-coast. Our expert hospitality professionals are available where you are and where you want to be. To learn more about SVN|Hotels, visit www.svnhotels.com.