Marcus & Millichap brokered the sale of the 96-room Courtyard by Marriott, located in Memphis, Tenn., according to Richard D. Matricaria, regional manager of the firm’s Tampa office.
Jonathan S. Ruprai, senior director of the firm’s National Hospitality Group, and Dennis Hopper, associate, both in Marcus & Millichap’s Tampa office, had the exclusive listing to market the property on behalf of the seller, a private investor. Anne Williams and Matthew Fitzgerald, brokers, assisted in this transaction.
According to Ruprai, the seller acquired the hotel in 2012, and shortly thereafter completed a $2.27 million renovation on the property.
This marks the 101st hotel sold by Marcus & Millichap’s National Hospitality Group in 2015.