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Ohio's Maruti Properties buys airport hotel

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  • | 11:16 p.m. January 29, 2010
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Ohio's Maruti Properties buys airport hotel

BUYER: Maruti Properties LLC (principal: Kaushik Patel), Ohio

SELLER: La Hacienda Resorts II LP

PROPERTY: 10081 Intercom Drive, Fort Myers

PRICE: $3.7 million

PREVIOUS PRICE: $1.03 million, June 2005

TITLE FIRM ON DEED: Title Group of Fort Myers Ltd., Fort Myers

PLANS, DESCRIPTION: Maruti Properties LLC, a limited liability company headed by Kaushik Patel, purchased the 90-room Comfort Inn & Suites Airport southeast of the interchange of County Highway 865 and Interstate 75 for $3.7 million. The purchase price equated to $41,111 per unit.

The 50,290-square-foot motel occupies a 2.4-acre site and was originally built in 2007, according to the CoStar Group. It houses an indoor heated pool and hot tub, laundry facilities, an exercise room and business center.

The purchase entity Maruti Properties LLC mortgaged the property to JPMorgan Chase Bank NA for $2 million.


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