JLL’s Hotels & Hospitality Group 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. 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.