HARLINGEN, TX, January 17, 2013â€“ Marcus & Millichap Real Estate Investment Services, the nationâ€™s largest real estate investment services firm, has announced the sale of Hampton Inn & Suites, a 70 room Hospitality property located at 1202 Ed Carey Drive in Harlingen, TX, according to David H. Luther, Vice President/Regional Manager of Marcus & Millichapâ€™s Houston office. The asset commanded a list price of $7,100,000.
Rahul Bijlani and Michael Yu, Senior Directors 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 limited liability company. Â The buyer, a limited liability company, was also secured and represented by Yu and Bijlani.
This sale represents the 19th 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.