Fort Myers Patel family buys two Clark hotels

BUYER: Shree Sainath Hospitality LLC (principal: Pratima Patel), Fort Myers
SELLER: Kirby D. Payne as receiver in AERL LC v. Sarasota Hotels LLC, et al.,
PROPERTY: 5774 Clark Road, Sarasota
PRICE: $2.51 million
PREVIOUS PRICE: $3.25 million, August 2005

BUYER: Shree Shree LLC (principals: Tarunbhai and Pinakin Patel), Fort Myers
SELLER: Kirby D. Payne as receiver in AERL LC v. Sarasota Hotels LLC, et al.,
PROPERTY: 5778 Clark Road, Sarasota
PRICE: $2.51 million
PREVIOUS PRICE: $4.25 million, November 2001
LAW FIRM ON DEED: Duncan & Associates PA, Fort Myers

PLANS, DESCRIPTION: Pratima, Tarunbhai and Pinakin Patel purchased the 62-unit Comfort Inn and the 62-unit Days Inn for a total of $5.01 million.