Marriott’s SpringHill Suites Waco Woodway, Woodway, TX
 |
| David Greenberg |
WOODWAY, TX June 11, 2013 – Marcus & Millichap Real
Estate Investment Services, the nation’s largest real estate investment
services firm, has arranged the sale of Marriott’s SpringHill Suites Waco
Woodway, a four-story, 82-room premier hotel located in Woodway, Texas,
part of the Waco metropolitan statistical area.
Chris Gomes, a senior associate, and Skyler Cooper,
an associate, both in Marcus & Millichap’s Dallas office, and David
Greenberg, a vice president investment in the firm’s Fort Lauderdale
office, represented the seller, a Texas based investor.
 |
| Jonathan Ruprai |
Senior associate Allan Miller of Marcus &
Millichap’s San Antonio office and associate Jake Gaddy, of the firm’s
Austin office, also provided representation to the seller.
Jonathan Ruprai, a senior associate in Marcus &
Millichap’s Tampa office represented the buyer, an investment group from Ohio.
“The
hotel was originally built as a Best Western Atrea in 2009 and was converted to
SpringHill Suites Waco Woodway in December 2011,” says Gomes. “Since the
conversion to a Marriott franchise, the revenue has continued to increase,
providing an exceptional opportunity for the new owners.”
 |
| Chris Gomes |
“This
transaction speaks to the power of the Marcus & Millichap platform,” says
Greenberg. “The listing team was located primarily in Texas, the buyer’s agent
is in the firm’s Tampa office and the investor is based in Middlebury Heights,
Ohio. Our culture of information sharing was instrumental in arranging an
agreement that was amenable to all parties,” concludes Greenberg.
 |
| Jake Gaddy |
SpringHill Suites Waco Woodway is located at 200 Colonnade
Parkway and benefits largely from the corporate room night demand generated by
companies such as L3 Communications and Coca-Cola.
In addition, Baylor University is situated approximately
seven miles from the hotel and various leisure and entertainment venues are
also situated nearby.
 |
| Allan Miller |
Amenities
include two meeting rooms, a full-service bar, an indoor swimming pool and spa
and a fitness center.
SpringHill Suites Waco Woodway is the 36th individual sale of a
hospitality asset brokered by Marcus & Millichap’s National Hospitality
Team in 2013.
For a complete copy of the company’s news release, please
contact:
Ben Johnson
Marketing Director
(925) 953-1736
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