DALLAS--(Rockwood Real Estate Advisors, a full service real estate investment banking firm, announced that it has successfully brokered the sale of the Wyndham Las Colinas in Irving, Texas. 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.)--
“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.”
Built in 1986, the hotel is located within the master-planned community of Las Colinas in Irving, Texas. 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.
Altobello commented on the sale, “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.”
About Rockwood Real Estate Advisors
Rockwood is a full-service real estate investment banking firm headquartered in New York with additional offices throughout the United States. Formed in 1991, the firm provides a broad range of research-driven real estate investment banking services and business solutions to institutional and private investor clients on a national and global basis. As of May 2011, Rockwood is a wholly owned subsidiary of CW Financial Services. For more information regarding Rockwood Real Estate Advisors, please visit its website at www.rockwoodrea.com.