Maruti Investment Acquires Two South Baton Rouge Hotels for $10.1 Million

/Maruti Investment Acquires Two South Baton Rouge Hotels for $10.1 Million

Maruti Investment Acquires Two South Baton Rouge Hotels for $10.1 Million

|2019-09-05T15:58:16-04:00August 21st, 2019|

A pair of hotels near Baton Rouge General’s Bluebonnet Boulevard campus have been sold to a group of local operators for $10.1 million.

Maruti Investment paid just over $6 million for the Hyatt Place at 6080 Bluebonnet and nearly $4.1 million for the TownPlace Suites by Marriott at 8735 Summa Place in two transactions that were filed Tuesday with the East Baton Rouge Clerk of Court’s office. Hospitality Investors Trust Inc., a New York-based investment trust, was the seller. According to an investor presentation from May, Hospitality Investors Trust owned 144 hotels across the U.S., a portfolio valued at nearly $2.2 billion. At the time, the company owned five hotels in Baton Rouge.

According to the Louisiana Secretary of State’s Office, Maruti is based out of 10332 Plaza Americana Drive, a property that is the site of a Sleep Inn South hotel. Minesh Patel, who has the same address as the hotel, is listed as an officer, along with Mehul Patel of Southlake, Texas, and Mukund Patel of Irving, Texas.

The Hyatt Place is listed as having 126 rooms, with amenities such as an outdoor pool and gym. The TownPlace Suites has 90 rooms and is an extended-stay hotel.

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