Rosewood sells former Marriott hotel in Charlotte, NC For $8.4 million

Charlotte, NC Rosewood Realty Group completed the sale of Towne Place Suites, a former Marriott Hotel franchise, for $8.4 million.

The three story, 56,244 s/f property at 8710 Research Dr. features 96 units. It was built in 2001. It sold for $87,500 per unit.

Rosewood Realty's Jonathan Brody represented the buyer, Lucern Capital and Rosewood's Mike Kerwin and Daniel Shabtai represented the seller, Kayak Group.

"The buyer plans to convert the property into multifamily rental housing," said Kerwin. "The units will cater to nearby universities and the booming NC economy."