Marcus & Millichap sells Hotel Indigo

2018-07-06 Tag: Hotel Indigo

Hotel Indigo,Marcus & Millichap sells Hotel Indigo

 

Marcus & Millichap, a commercial real estate investment services firm with offices throughout the United States and Canada, sold the 67-room Hotel Indigo in Fort Myers, Fla. The asset sold for $9.3 million.

“The iconic Hotel Indigo is arguably the most desirable hotel in downtown Fort Myers’ River District,” Jonathan Ruprai, senior director of Marcus & Millichap’s National Hospitality Group, said in a statement. “Over the past several years, increased demand for overnight accommodations in the River District, fueled by growing business and leisure travel generators, have created significant growth for this asset. The buyer plans to further improve the property’s impressive performance through renovations and the implementation of a strategic management and marketing plan.”

Ruprai had the exclusive listing to market the property on behalf of the seller, a limited liability company, and procured the buyer, Iowa-based Hawkeye Hotels, in a joint venture with Georgia-based HOS Management.



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