JLL’s Hotels & Hospitality Group announced today that it has closed the $55 million sale of six Hyatt Place branded select-service hotels totaling 754-keys across the Southeast, Texas and Kansas.
JLL worked on behalf of Argentic Services Company LP, as a special servicer for the seller’s two CMBS Trusts, in the sale of the properties to HKB Hotel Group, LLC (HKB was advised by ThornOak Capital). The properties were offered unencumbered by management and with long-term Hyatt franchise agreements.
Each hotel was constructed between 1995 and 1997 and features 126 guestrooms, except for the hotel in Georgia which has 124 rooms.
The portfolio consists of:
- Hyatt Place Atlanta Alpharetta North Point Mall, Alpharetta, Georgia
- Hyatt Place Charlotte Arrowood, Charlotte, North Carolina
- Hyatt Place Dallas Park Central, Dallas, Texas
- Hyatt Place Greenville Haywood, Greenville, South Carolina
- Hyatt Place Roanoke Airport Valley View Mall, Roanoke, Virginia
- Hyatt Place Topeka, Topeka, Kansas
The hotels are located within highly desired primary and secondary submarkets with a diverse base of corporate and leisure demand drivers. In addition to each submarket’s strong corporate presence, ranging from healthcare, industrial, finance, technology and more, the properties are surrounded by a variety of retail, dining and entertainment options.
The JLL Hotels & Hospitality team representing the seller was led by Managing Director Chris Dewey, Vice President Steve Leslie and Senior Managing Director Will Sledge.