Nic Wade (left) and Prashant Merchant. Photo courtesy Colliers International Virginia
Colliers International Virginia announced Thursday it has hired Prashant Merchant as senior vice president of the company’s capital markets team and Nic Wade as assistant vice president.
Merchant and Wade most recently led the hospitality division for California-based real estate brokerage Marcus and Millichap Inc. In their new role, they will focus on hotel and motel analysis and disposition in the mid-Atlantic region, specifically on seller representation.
“Recently, the pandemic has had a profound impact on hotels and as a result, we see conversion opportunities which should bring investors from various real estate asset types to the hotel space,” Merchant said in a statement. “Having teamed up with Colliers now allows us to add value to our investors by bringing an entire new asset type to the table.”
