A Best Western Plus Regency Park hotel near the intersection of Interstate 12 and Walker Road North has been sold for $4.6 million.
Kunal Panchal, of Brookhaven, Mississippi, bought the 63-room hotel at 13600 Hartman Lane. The seller was Nilesh Patel, of Denham Springs.
Manish Sthanki, an agent with Marcus & Millichap in Baton Rouge who represented both the buyer and the seller in the deal, said this is Panchal’s first hotel in the area. He plans to continue operating it as a Best Western Plus Regency Park.
The hotel opened in March 2016 and features a number of amenities, including a pool, fitness center, laundry facility and business center. “It’s a pretty new concept for Best Western,” Sthanki said.