A Charleston-area hotel has been sold in an $8 million deal.
NAI Charleston brokers Ed Sutton and Michael Branch represented both the buyer and the seller in the transaction of the Fairfield Inn & Suites in North Charleston, according to a news release.
The property, located at 2600 Elms Center Road just off Highway 78, has three floors and 76 hotel rooms, according to the release. Prabhuta Hospitality LLC purchased the property from Elm Hotel Partners for $8 million.
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“We have built an excellent hospitality network in the Lowcountry and were able to quickly match up a buyer and a seller for the Fairfield Marriott on Elms Road off Highway 78 in North Charleston,” said Sutton in the release. “We are not just hotel brokers; we are also owners of hospitality property and enjoy assisting clients with our keen knowledge of the Lowcountry hospitality market.”
NAI Charleston is a full-service commercial real estate firm whose industry experts have over a century of combined experience in the Charleston commercial real estate industry and over $1 billion in total transaction volume, according to the release.