Two Properties Change Hands
A Hyatt House in a Dallas suburb and a hotel in Montana offering tipis as guestrooms have been sold.
NewcrestImage Sells Hyatt House In Frisco, TX
NewcrestImage has sold the 132-suite, six-floor Hyatt House Dallas/Frisco in the Dallas suburb of Frisco, TX, to a hotel group based in the northeastern U.S. The hotel, built by NewcrestImage, opened in March of 2016.
“This sale demonstrates that despite the upheavals of COVID, a well-positioned asset in a strongly-performing market has attractive investment appeal,” said Mehul Patel, chairman/CEO of NewcrestImage. “Our company constantly evaluates how we can best add value and boost profitably for our investors. Proceeds of the Frisco transaction enable us to move ahead promptly and efficiently with additions to our portfolio of new properties and new opportunities in new markets.”
Dallas-based NewcrestImage owns and operates 30 hotels nationwide, including through its private real estate funds.
Crystal Investment Property Brokers Sale of Dreamcatcher Tipi Hotel
Crystal Investment Property LLC (CIP) has brokered the successful sale of the Dreamcatcher Tipi Hotel in Gardiner, MT. CIP, a licensed Montana brokerage, represented the seller in the sale. Michelle L. Kennedy, principal/designated broker at CIP, and the CIP team worked closely with the seller and buyer, as well as the parties’ other professionals, to negotiate a mutually acceptable sale. The final sale price is confidential.
Dreamcatcher Tipi Hotel spreads out among four owned acres near the Yellowstone River and the only year-round entrance to Yellowstone National Park. The hotel features 14-22-ft. wood and canvas tipis, each one sleeps two to four guests comfortably. Every tipi offers full electrical, including outlets and lighting, as well as heaters. A new bathhouse offers seven private bathrooms, rain showers and heated floors. Facilities include a lobby/store tent, breakfast tent, storage sheds, mechanical room, fire pit and barbeques. The property also includes fenced-in RV hookups.