Hospitality O Indiana

CBRE sells three-property Marriott portfolio in Indianapolis

CBRE sells three-property Marriott portfolio in Indianapolis,ph01

CBRE has arranged the sale of a 497-room, three-property Marriott portfolio in Indianapolis. The three hotels were acquired by USOCG and consist of a 315-room Marriott, 119-room Delta and 63-room Fairfield Inn & Suites, anchored by 90,000 square feet of meeting space.

The assets were sold in a joint venture by Shadeland Enterprises, LLC and Midwest Investments Associates, LLC with no purchase price disclosed.

CBRE Hotel’s Nate Sahn, James Foxx and Pravin Boteju represented the sellers alongside Stephen LaMotte Jr. from CBRE’s Indianapolis office.

The three hotels are located directly adjacent to each other and are anchored by more than 90,000 sq. ft. of meeting space, one of the largest concentrations of meeting space of any hotel in Indiana. Their location along Interstate 70, just 10 minutes east of downtown Indianapolis, positions the properties to benefit greatly from compression during major citywide events as well as their accessibility to the entire metro area.