Written by Phil Cerroni
Rockwood Real Estate Advisors announced that it has successfully brokered the sale of the Wyndham Las Colinas in Irving. Andrew Kern and David Altobello, Managing Directors in Rockwood’s Bethesda office, represented the seller, an affiliate of Investcorp International, Inc., in the transaction. Rockwood sourced local investors to purchase the property, which will be renovated after the acquisition.
Built in 1986, the hotel is located within the master-planned community of Las Colinas. The 168-room hotel offers many guest amenities including a business center, an indoor pool, fitness center, concierge, guest laundry and shuttles to area attractions.
Providing excellent access to the John Carpenter Freeway, the Wyndham Las Colinas is approximately 12 miles from downtown Dallas and 11 miles from the DFW International Airport. A major business center, more than 2,000 companies currently lease office space in Las Colinas, including Exxon-Mobil, General Motors, Microsoft and AT&T.
“We’re pleased to complete this transaction for our client. Given the quality of the asset and the strong recovery in the Dallas market, we were able to generate significant interest among hotel investors,” Altobello said.
Source: Rockwood Real Estate Advisors