SPRING, Texas—Marcus & Millichap announced the sale of an 85-room Fairfield Inn & Suites hotel in Spring, Texas.
“This was a complex transaction that spanned nine months, including a six-month escrow, and involved complications with lending, title issues, and shifting market conditions,” said Rajan Patel, associate investments. “Despite the roadblocks, our team remained persistent, and we’re proud to have delivered a successful outcome for both parties.”
Rajan Patel, investment specialist in Marcus & Millichap’s Houston office, exclusively marketed the property on behalf of the seller, Paramount Spring Group LLC, and procured the buyer, Prem Hospitality Enterprise. The transaction received additional support from Allan Miller, Chris Gomes, and Skyler Cooper of the Miller-Gomes Hotel Team.
Built in 2013, Fairfield Inn & Suites Houston North/Spring is situated four miles south of The Woodlands, offering visibility and access along Interstate 45. It is surrounded by major corporate headquarters, leading health care facilities, and popular retail and entertainment destinations. Amenities include an outdoor pool, a fitness center, and meeting spaces.
