Super 8 motel owner buys Rodeway Inn

BUYER: Shree Hospitality LLC (manager: Girish Patel), Bradenton
SELLER: Shiv Shraddha LLC
PROPERTY: 5000 N. Tamiami Trail, Sarasota
PRICE: $2.4 million
PREVIOUS PRICE: $2.95 million, January 2004
ATTORNEY ON DEED: Thomas A. Moseley Chartered, Bradenton

PLANS, DESCRIPTION:
Hotelier Girish Patel of Bradenton purchased the 97-room Rodeway Inn in Sarasota for $2.4 million.

The price equated to $24,742 per unit.

The three-story, 35,757-square-foot motel was built in 1987 and occupies a 2.78-acre parcel. Amenities for the former Comfort Inn include an outdoor swimming pool, guest laundry and exercise room.

Patel is a director of the Super 8 hotel on U.S. 41. He had not replied to a request for comment prior to deadline.

The purchase entity, Shree Hospitality LLC, mortgaged the property to Royal Banks of Missouri for $2 million.