MEMPHIS, Tennessee—Marcus & Millichap introduced at this time the sale of Hu. Lodge, a 110-room resort in Memphis, Tennessee.
Mitchell Presas, Skyler Cooper, Chris Gomes and Allan Miller of Marcus & Millichap’s Miller-Gomes Lodge Crew, 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 consider had been truthful phrases for all events, however he additionally introduced a group with in depth 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 obtainable, permitting me to deal with closing the deal. I look ahead to working with the group on future tasks and would gladly advocate them to different resort homeowners.”
Situated 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 Road, the Mississippi River, and FedExForum, the resort includes a rooftop bar, assembly areas, and a health middle.
“The Miller-Gomes Lodge Crew of Marcus & Millichap’s Nationwide Hospitality Division was honored to advise on the negotiation of the Hu. Lodge 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 group 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 consider will probably be a rewarding venture for the brand new homeowners.”
