Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of Hawthorn Suites by Wyndham Kissimmee Gateway, a 103-room hospitality property located in Kissimmee, FL, according to Ryan Nee, regional manager of the firm’s Miami office. The asset sold for $9,300,000.

Ahmed Kabani, an investment specialist in Marcus & Millichap’s Miami office, had the exclusive listing to market the property on behalf of the seller, a private investor. The buyer, a limited liability company, was secured and represented by R. Michael Francis and Wes Christensen, investment specialists in Marcus & Millichap’s Salt Lake City office.

“Buyer PEG (national) one of the fastest growing real estate investment company from Utah has unveiled its first new multifamily brand ARIA Apartment with Hawthorne suites acquisition as class B multifamily housing in Kissimmee, Florida” says Ahmed Kabani –Senior Vice President, Investment –National Hospitality Group.

Hawthorn Suites by Wyndham Kissimmee Gateway is located at 3020 Reedy Creek Blvd in Kissimmee, FL. Sitting on 3.69 acres of land, this hotel is located minutes away from Walt Disney World Resort and Theme Parks. The all-suite hotel is ideal for both weekend getaways and extended stays featuring free daily breakfast, free WiFi, an outdoor pool and fitness center. The suites offer full of amenities such as a full kitchen, washer, and dryer, 2 flat-screen TVs, and a sleeper sofa. The hotel offers free shuttle service to local theme parks.

About Marcus & Millichap (NYSE: MMI)

With over 2,000 investment sales and financing professionals located throughout the United States and Canada, Marcus & Millichap is a leading specialist in commercial real estate investment sales, financing, research and advisory services. Founded in 1971, the firm closed 9,726 transactions in 2019 with a value of approximately $50 billion.