Marcus & Millichap Arranges The Sale Of 72-room Hospitality Property In San Antonio
NEW BRAUNFELS, TX–Marcus & Millichap, a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of Wingate by Wyndham New Braunfels, a 72-room hospitality property located in New Braunfels, Texas, according to Bruce E. Bentley III, regional manager of the firm’s Austin office.
Allan Miller and Chris Gomes, investment specialists in Marcus & Millichap’s Austin and Dallas offices, had the exclusive listing to market the property on behalf of the seller, a limited liability company. The buyer, also a limited liability company, was procured by both Miller and Gomes. Wingate by Wyndham New Braunfels is located at 245 FM306 in New Braunfels, Texas, just off Interstate 35.
“The city of New Braunfels has many popular destinations and it’s in close proximity to many of the demand generators that San Antonio offers,” Miller explained. “This offering generated 12 written offers. We were very happy with the level of investor interest in this asset and think the New Braunfels hotel market is set up for increased demand over the next several years.”
The Miller-Gomes Hotel Team of Marcus & Millichap has sold over 490 hotels across the nation. To date, this is the 27th hotel sale in the San Antonio MSA by the Miller-Gomes Hotel team. The Team has over 50 active listings across 17 states with nearly 40 assets under contract.