Another deal for a College Drive-area hotel has closed.
The Comfort Suites University at 3045 Valley Creek Drive has been purchased for $3.7 million by SRG Investment LLC, represented by Rajendra Desai. Indianapolis-based Baton Rouge Lodging Associates LLP, managed by Bharat Patel, sold the hotel, according to land records filed with the East Baton Rouge Parish Clerk of Court today.
The land the hotel sits on was valued at $1.2 million, the sale records say, while the building and other improvements carry a $2.59 million value, totaling the $3.7 million closing price. An employee with the hotel says renovations are planned, but no timeline is yet available. The hotel will keep the Comfort Suites brand, according to the employee, who wished to remain anonymous because they were not authorized to discuss the deal. The hotel is made up of 110 rooms.
The sale follows movement on several other hotels in the area in recent months. In September plans were announced to build a Candlewood Suites at 5353 Bankers Ave., off Corporate Avenue near College Drive. Also, a $13.5 million deal for the CitiPlace Homewood Suites off Corporate Avenue closed last week.  —Kelly Connelly
