Marcus & Millichap arranged the sale of the Tru by Hilton Charleston Ashley Phosphate, a 121-room hotel in North Charleston, S.C. Other terms and conditions were not disclosed.
“Through our competitive marketing process, we procured multiple offers and ultimately uncovered an out-of-state 1031 exchange buyer with seller-favorable terms,” Jack Davis, senior managing director investments in Marcus & Millichap’s Charleston office, said in a statement.
Davis, along with Marcus & Millichap’s Chase Dewese, Joce Messinger and Brenden DeLuke represented the seller.
Built in 2020, the five-story, ADA-compliant property sits on a 2.77-acre parcel and includes amenities such as EV charging stations, an outdoor pool and fitness and business centers. The property benefits from proximity to downtown Charleston, Charleston International Airport, Tanger Outlets and several Fortune 500 employers.