BAY CITY, TX, January 17, 2013 â€“ Marcus & Millichap Real Estate Investment Services, the nationâ€™s largest real estate investment services firm, has announced the sale of Best Western, a 120 room Hospitality property located at 407 Seventh Street in Bay City, TX, according to David H. Luther, Vice President/Regional Manager of Marcus & Millichapâ€™s Houston office.
Michael Yu and Rahul Bijlani, Senior Directors of the National Hospitality Group, and Eric Guerrero, an investment specialist in Marcus & Millichapâ€™s Houston office, had the exclusive listing to market the property on behalf of the seller, a bank/financial institution. The buyer, a private investor, was secured and represented by Tyler Bean, an investment specialist in Marcus & Millichapâ€™s Ft. Worth office and Bijlani and Yu.
This sale represents the 20th hotel transaction the Yu-Bijlani group has closed in the last 12 months. They currently have five hotels in escrow and 22 listings spread across Texas.