MEMPHIS, Tennessee—Marcus & Millichap introduced at this time the sale of Hu. Resort, a 110-room resort in Memphis, Tennessee.
Mitchell Presas, Skyler Cooper, Chris Gomes, and Allan Miller of Marcus & Millichap’s Miller-Gomes Resort Workforce represented the native personal purchaser within the transaction. Jody McKibben is Marcus & Millichap’s dealer of report in Tennessee.
“I totally loved working with Mitchell. He not solely labored diligently to safe the deal at what I imagine have been truthful phrases for all events, however he additionally introduced a workforce with intensive data and expertise,” mentioned Nick Patel, the customer. “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 give attention to closing the deal. I stay up for working with the workforce on future tasks and would gladly advocate them to different resort house owners.”
Positioned at 79 Madison Ave. in downtown Memphis, the resort occupies the previous Tennessee Belief Constructing, in-built 1905 and listed on the Nationwide Register of Historic Locations. Steps from Beale Avenue, the Mississippi River, and FedExForum, the resort incorporates a rooftop bar, assembly areas, and a health middle.
“The Miller-Gomes Resort Workforce of Marcus & Millichap’s Nationwide Hospitality Division was honored to advise on the negotiation of the Hu. Resort in downtown Memphis,” mentioned Mitchell Presas, senior affiliate. “Initially constructed as a financial institution constructing in 1905, the property was transformed right into a 110-room luxurious boutique resort in 2002 and underwent important renovation and rebranding round 2018-2019. Listed on the Nationwide Register of Historic Locations since 1982, the resort retains its conventional ornate and classical revival exterior. Beforehand marketed a number of instances by one other nationally acknowledged firm, our workforce efficiently procured an in-state personal purchaser who offered extremely aggressive phrases. This really showcases the ability of the Marcus & Millichap platform. We’re thrilled to see this distinctive historic asset attain its full potential for the area people and imagine it will likely be a rewarding challenge for the brand new house owners.”
