Belfrage and Ives of CBRE broker $20m sale of 11-story Holiday Inn

CB Richard Ellis (CBRE) Hotels has completed the sale of the Holiday Inn on the Lane at Ohio State University for $20 million. Ohio State University purchased the hotel and will convert the 11-story story high-rise to student housing. The 243-room hotel was built by James Harper in 1973 and had been owned and operated by Harper Hotels for 35 consecutive years as a Holiday Inn. CBRE Columbus' Eric Belfrage and CBRE Atlanta's Tom Ives represented the seller in the property sale.