Prashant Merchant and Nicholas Wade Promoted to Executive Vice President and First Vice President

Prashant Merchant joined Colliers as a Senior Vice President in January 2021. Formerly, Prashant led The Merchant Hotel Group at Marcus & Millichap as a Vice President of Investments and a Director at the firm’s Hospitality Division. Prashant is based in Richmond, Virginia with a primary focus on the analysis and disposition of Hotels/Motels in the Mid-Atlantic and Southeast markets with an emphasis on exclusive seller representation. He was promoted to Executive Vice President at Colliers in May of 2022.

As a hospitality investment specialist, Prashant advises clients on the acquisition and disposition of hotels/motels in the Mid-Atlantic and Southeast regions, with an emphasis on exclusive seller representation. Prashant provides his clients with access to the largest pool of regional, national, and international qualified investors to create a competitive bidding environment upon asset disposition. Prashant has completed acquisitions and dispositions under all major hotel franchises including Hilton, Marriott, Best Western, Choice, and Wyndham. He and his team, Merchant Hotel Group, focus on mid-market client dispositions of limited, select, and full-service hotels across economy, midscale, and upper midscale categories. Prashant is committed to the highest level of client service with direct involvement in every transaction including franchise negotiation and financing. 

Prior to becoming an investment sales broker in 2016, Prashant had been involved as a principal in real estate acquisitions, refinances, and DPOs. Prashant remains involved as a passive investor across a diverse stream of real estate investments. He has worked with lenders, franchisors, buyers, and sellers, regionally and nationally, and produced positive results for his brokerage clients as if they were his own businesses. Prashant delivers real time information to his clients about the hotel/motel market conditions and the best ways to capitalize on forward-looking trends. He has thorough experience in franchise conversions, alternative-use / hotel-to-housing conversions, and intimate knowledge of how to improve hotel operations. His team also offers complimentary pricing evaluations and consultations to ownership groups contemplating a hotel disposition or curious of the current market value of their property.

Nic Wade is an investment sales broker who joined Colliers as an Assistant Vice President in January 2021. Formerly, Nic was a Director at Marcus & Millichap’s Hospitality Division in the firm’s Richmond, Virginia office. Nic was promoted to Vice President at Colliers in May of 2022.

As a hospitality investment specialist, Nic advises clients on the acquisition and disposition of hotels/motels in the Mid-Atlantic and Southeast regions, with an emphasis on exclusive seller representation. Nic provides his clients with access to the largest pool of regional, national, and international qualified investors to create a competitive bidding environment upon asset disposition. Nic has completed acquisitions and dispositions under all major hotel franchises including Hilton, Marriott, Best Western, Choice, and Wyndham. He and his team, Merchant Hotel Group, focus on mid-market client dispositions of limited, select, and full-service hotels across economy, midscale, and upper midscale categories. Merchant Hotel Group also offers complimentary pricing evaluations and consultations to ownership groups contemplating a hotel disposition or curious of the current market value of their property. 

Nic is a native Virginian born and raised in the Hampton Roads area and currently residing in Richmond. He is a graduate of Christopher Newport University, where he earned degrees in Political Science and American Constitutional Studies. Prior to joining Marcus & Millichap, Nic held a research role investigating commercial real estate sales, leases, and market trends as a Research Associate at CoStar. He is a licensed real estate salesperson in Virginia. 

As Managing Director of the Richmond office, I am responsible for leading the central Virginia brokerage operation consisting of more than of 40 professionals and support staff. In this role, I am responsible for the strategic direction and performance of the region.  And with more than 20 years of experience in the commercial real estate industry, I have acquired a diverse skill set to develop and implement real estate strategies to maximize my customers’ success.  Throughout my career, I have guided owners, occupiers and developers of commercial real estate to create solutions congruent with their short- and long-term business goals.  
I have experience as a single point-of-contact providing complete transaction management and consulting services for my customers. I am fully committed to the customer to ensure smooth transition between project phases while leveraging resources for a direct impact to the bottom line and the success of each project.