- Raj Patel acquired the 3-story, 66-key Super 8 hotel in Gardiner, MT.
- The 1987 hotel sits on 1.37 acres at Yellowstone’s North Entrance.
- Marcus & Millichap brokered the sale.
RAJ PATEL ACQUIRED the 3-story, 66-key Super 8 hotel in Gardiner, Montana, from Eric Sheckleton. Marcus & Millichap brokered the sale.
The 1987 hotel sits on 1.37 acres at Yellowstone National Park’s North Entrance, the park’s only year-round entrance, M&M said in a statement. Nearby attractions include Roosevelt Arch, Mammoth Hot Springs, Paradise Adventure Co. and Yellowstone Dreamin' Adventures.
Marcus & Millichap Capital Corp., a subsidiary of the California company, secured the financing.
“The seller was a repeat client and a pleasure to work with throughout the transaction,” said Huberth Marak, M&M’s director of investments. “Gardiner is a resilient market. While other parts of Montana have experienced a slowdown, Yellowstone National Park continues to see visitor growth. The buyer, who owns hotels in similar areas, understood the market dynamics and long-term potential of this property.”
Marak, Skyler Cooper, Chris Gomes and Allan Miller, investment specialists in M&M’s Denver, Dallas and Austin offices, along with Adam Christofferson, M&M’s Montana broker of record, held the exclusive listing for the seller. Jay Arora, M&M’s associate director of investments in the Phoenix office, secured the buyer.
Arora said the acquisition expands the buyer’s geographic footprint and reinforces its commitment to customers in the mountain states.
Denver-based Copford Capital Management acquired the vacant 13-story, 200-key former Westmark Anchorage hotel in Anchorage, Alaska and plans to reposition it as a lifestyle hotel.
