Marcus & Millichap brokered the sale of the Sonesta ES Suites Charlotte Arrowood, an extended-stay hotel in Charlotte, N.C. Other terms and conditions were not disclosed.
“This transaction was particularly meaningful, as it involved working with a non-profit organization, who will reposition the property to provide affordable housing for veterans and their families,” Chase Dewese, senior director investments, said in a statement. “This also demonstrates our teams overall reach and creativity in working with non-traditional hotel ownership structures.”
Dewese and Marcus & Millichap’s Jack Davis and Joce Messinger, represented the private seller.
The property is at 7925 Forest Pine Drive and sits on a 3.39-acre site just off Interstate 77, less than 10 minutes from Carowinds amusement park, a year-round regional attraction. The hotel features suite-style accommodations with fully equipped kitchens. Amenities include a fitness center, business center, convenience store and complimentary breakfast.