VOL. 129 | NO. 15 | Thursday, January 23, 2014

The former Motel 6 at 1321 Sycamore View Road in Northeast Memphis has traded hands for $1.4 million.

An entity called P & S Hospitality LLC bought the 27,232-square-foot motel in a Jan. 14 special warranty deed from G6 Hospitality Property LLC, which had bought the property in 2012 for $1.4 million from Motel 6 Operating LP.

Built in 1985, the hotel sits on 2.4 acres on the west side of Sycamore View Road south of its intersection with Macon Road. The Shelby County Assessor of Propertys 2013 appraisal was $1.2 million.

In conjunction with the purchase, P & S Hospitality LLC filed a $1.1 million deed of trust through Argent Bank. Jetal R. Shah signed the deed as managing member of the borrower.

Source: The Daily News Online & Chandler Reports

Daily News staff

Belz Enterprises has established a new venture, Peabody Hotels & Resorts, that moves the company into asset and brand management within the luxury hotel space.

The transition has been in the works for a few years, and through it, the new venture will begin researching and evaluating properties that could become Peabody-branded hotels.

Under the management of Belzs new venture, properties would take the Peabody name and adopt its core standards, values and traditions. And like the flagship Peabody property in Memphis, each hotel would serve as the home for its own group of five North American mallard ducks, continuing the Peabodys 80-year tradition of the March of the Peabody Ducks.

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