VICTORIA, TX. February 28, 2013â€“ Marcus & Millichap Real Estate Investment Services, the nationâ€™s largest real estate investment services firm, has announced the sale of Candlewood Suites Victoria/ Houston, an 82 room Hospitality property located at 7103 Navarro Street, in Victoria, TX, according to David H. Luther, Vice President/Regional Manager of Marcus & Millichapâ€™s Houston office. The asset commanded a list price of $9,500,000.
Michael Yu and Rahul Bijlani, Senior Directors of the National Hospitality Group, and Eric Guerrero, an Associate of the National Hospitality Group in Marcus & Millichapâ€™s Houston office, had the exclusive listing to market the property on behalf of the seller, a private investor. Â The buyer, a limited liability company, was also secured and represented by Guerrero, Yu and Bijlani.
This sale represents the 21st hotel transaction the Yu-Bijlani Hospitality team has closed in the last 12 months. They currently have seven hotels in escrow and 21 listings spread across Texas.