New Owners Adjust Room Rates at Pratt Place Inn

Remember a few weeks when the Pratt Place Inn & Barn in Fayetteville was bought out of bankruptcy for $3.1 million?

It recently drew another seven-figure sale, but in this case, the ownership will remain the same.

Fayetteville real estate firm Specialized Real Estate Group, through its Specialized Acquisitions LLC, paid $3.1 million in February for two parcels totaling roughly 140 acres, including the seven-room inn and event center.

According to a March 30 real estate filing, Specialized Acquisitions sold the property for $3.2 million to RMD Properties LLC.

RMD, we found out, is a related entity to SREG that is used to hold assets. Specialized Acquisitions is the entity the firm uses in purchasing properties, but is not a holding entity.

We’re told the difference in the initial price and the transfer price to RMD amounts to “transaction fees.”

As for Pratt Place, SREG continues to manage the property, and if you’ve not thought of an overnight visit before, you should.

Standard rates for the seven rooms in the inn had ranged from $275 to $595 a night. The new rates are $189 to $295 a night, for rooms featuring antique French armoires, Persian rugs on hardwood floors, fireplaces and marble bathrooms. 

Five of the rooms also have private verandas overlooking lawns, woods, and a sprawling pasture that’s home to four Haflinger horses, who, we’re told, really like peppermints.