CHICAGO – July 19, 2016 – CBRE recently arranged the sale of the 62-room Best Western Circus City Inn at 2642 S. Business 31 in Peru, Ind. for an undisclosed price. The hotel owner sold the limited-service hotel to Paresh Patel of Merra, LLC.
Brian Silberman, Stanley Wang and Scott Miller of CBRE Hotels in Chicago represented the seller in this transaction.
“This TripAdvisor #1 ranked hotel is nearly finished with its Best Western Design Excellence renovations,“ said Silberman, Vice President with CBRE Hotels. “Following the purchase of this Best Western, Mr. Patel plans to continue to improve the hotel and maintain the exceptional customer service experience.”
Peru, Ind. is also known as the “Circus Capital of the World,” and was once the winter headquarters for many famous circuses, including: Ringling Brothers, Buffalo Bill's Wild West Show, and Hagenbeck-Wallace. An annual festival and parade is held the third week of July with performances from the Peru Amateur Circus.
CBRE Hotels is a specialized advisory group within CBRE providing brokerage, valuation and capital markets services to companies in the hotel sector. CBRE Hotels is comprised of over 385 dedicated hospitality professionals located in 60 offices across the globe.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (in terms of 2015 revenue). The Company has more than 70,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 400 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. Please visit our website at www.cbre.com.
