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HKB Hotel Group Pays $55M for Six Hyatt Place Branded Properties
Atlanta, GA-based HKB Hotel Group, LLC, has completed its $55-million acquisition of six Hyatt Place branded select-service hotels totaling 754 keys:
- Hyatt Place Atlanta Alpharetta North Point Mall, Alpharetta, GA
- Hyatt Place Charlotte Arrowood, Charlotte, NC
- Hyatt Place Dallas Park Central, Dallas, TX
- Hyatt Place Greenville Haywood, Greenville, SC
- Hyatt Place Roanoke Airport Valley View Mall, Roanoke, VA
- Hyatt Place Topeka, Topeka, KS
Chris Dewey, Steve Leslie and Will Sledge of JLL worked on behalf of Argentic Services Company LP, as a special servicer for the seller’s two CMBS trusts. HKB Hotel Group, LLC, 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 GA, which has 124 rooms.
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.
- ◦Sale/Acquisition
