July 20, 2016 – Tandy O. Lofland, CEO of Intergroup Realty, Inc. and Mark J. Rome, president of MJ Rome, announced their firms advised the seller in the recent sale of the Hyatt Place Dallas/Las Colinas in Irving, Texas. The Texas-based brokers were able to leverage their relationships with the seller and a proven regional investor to facilitate a transaction for one of the premier select-service hotels in the thriving Las Colinas sub-market. The 122-room hotel enjoys world-class corporate and leisure demand due to its prime location in the 12,000-acre, upscale Las Colinas mixed-use development, one of the largest master-planned communities in the U.S.
The seller is an affiliate of Summit Hotel Properties, Inc. and the purchaser is a private investment group from the Dallas-Fort Worth area. This is the second recent transaction between seller and purchaser arranged by the brokers, Tandy Lofland and Mark Rome. The hotel will undergo certain upgrades and improvements and will continue to operate as a Hyatt Place franchise.
Las Colinas is home to headquarters or major offices of such corporations as ExxonMobil, AT&T, Kimberly-Clark, Fluor, Citigroup, Microsoft, Nokia, and many others and also contains thousands of residential units plus numerous hotels, retail developments, golf courses, and other facilities and amenities.
