Las Colinas Hyatt Place Sale Co-brokered by Tandy O. Lofland and Mark J. Rome

. July 21, 2016

DALLAS, TX. July 21, 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.

About Intergroup

For over 30 years Intergroup or its affiliates have developed or undertaken transactions for hundreds of projects and properties worth billions of dollars in the United States, Latin America, Caribbean, and Europe with an emphasis on middle-market, upscale, and luxury hotels, resorts, and mixed-use developments involving such companies as Four Seasons, Hilton, Marriott, Starwood, Hyatt, InterContinental Hotel Group, Carlson, Accor, Barceló, and others. Intergroup represents or has relationships with many owners, domestic and international investors, private equity firms, operators, and REITs. Intergroup is actively involved in acquisitions, dispositions, equity sourcing, redevelopments, new developments, recapitalizations, partnership formations, and advisory assignments in many U.S. markets and major destinations as well as in select foreign locations. www.intergroupcompanies.com

About MJ Rome

MJ Rome is a boutique, hospitality brokerage and advisory firm based in Dallas, TX. Mark J. Rome, the founder and president of MJ Rome has more than fifteen years of experience successfully marketing and structuring hospitality real estate sales. He is a licensed attorney in Texas with more than 20 years of experience negotiating complex, multi-party transactions. Since 2000, Mark has participated in structuring over 80 hotel deals valued in excess of $500 million for a variety of clients, ranging from large, publicly-traded companies to individual owners. www.mjromeinc.com

Contact:
Tandy O. Lofland
[email protected]
713-973-2130

Mark Rome
[email protected]

Business Contact:

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