Oak Hospitality Acquires Comfort Suites Hotel In Raleigh For $7.72M

The Comfort Suites Raleigh Walnut Creek hotel in Raleigh, NC has been sold for $7.72 million. The property is located at 1309 Corporation Parkway and intersects with Hwy 64/264 East. The hotel sits on approximately 1.69 acres of land. This transaction involved the buyers, Oak Hospitality, and the sellers, Neel-Kanth LLC. The sale included 66 keys, and the price per key was $116,970.

Summary of transaction details

• Property Type: Hotel
• Transaction Amount: $7,720,000
• Address: 1309 Corporation Pkwy & Hwy 64/264 East, Raleigh, NC
• Market: Raleigh, NC
• Buyer: Oak Hospitality
• Seller: Neel-Kanth LLC
• Keys: 66
• Price Per Key: $116,970

This transaction marks the transfer of ownership of the Comfort Suites Raleigh Walnut Creek hotel from Neel-Kanth LLC to Oak Hospitality. Both buyer and seller are local ownership groups involved in the Raleigh hospitality industry. The sale of this hotel property demonstrates the ongoing activity and growth in the Raleigh hotel market.