MMI Acquires Little Switzerland Resort In Spruce Pine For $15.65M

MMI has acquired Little Switzerland, a 70-room resort in North Carolina's Blue Ridge Mountains, along with two adjacent residential houses, for $15.65 million. The property is located at 86 High Ridge Road in Spruce Pine, NC. This hotel asset was sold by an undisclosed seller in a closed transaction on January 17, 2024.

Summary of transaction details:

• Property Type: Hotel
• Transaction Amount: $15,650,000
• Address: 86 High Ridge Road, Spruce Pine, NC
• Market: Spruce Pine, NC
• Buyer: MMI

The sale of Little Switzerland was facilitated by McLean Hicklin from the Marcus & Millichap agency, who represented MMI in this transaction. The purchase includes the 70-room resort and two nearby residential houses. The buyer, MMI, acquired the property for a price of $15.65 million, with a price per key of $223,571.