SVN Hotels sells Raleigh Hyatt Place for $13.7M

A guestroom in the Hyatt Place Raleigh. Photo credit: Hyatt Hotels Corporation

Under the leadership of Don Walston and Sanjay Mundra, SVN Hotels sold the Hyatt Place Hotel located at1105 Navaho Drive in Midtown Raleigh, N.C. Trinity Hospitality acquired the property on Aug. 16, 2018, for $13.7 million.

SVN Hotels, a nationwide hotel brokerage company, exclusively represented the seller and handled the sale of the property.

Paul Khosla, VP of SVN Hotels, led the transaction. He was assisted by Jeff Roike, SVP of SVN Hotels.

Virtual Event

Hotel Optimization Part 3 | January 27, 2021

With 2020 behind us and widespread vaccine distribution on the horizon, the second half of the new year is looking up, but for Q1 (and most likely well into Q2) we’re very much still in the thick of what has undeniably been the lowest point of the pandemic. What can you be doing now to power through and set yourself up for a prosperous 2021 and beyond? Join us at Part 3 of Hotel Optimization – A Virtual Event on January 27 from 10am – 1:05pm ET for expert panels focused on getting you back to profitability.

“We were extremely pleased with the entire transaction process, which was professionally handled by Paul Khosla of SVN Hotels,” Bhupen Patel, CEO of BPR Properties and the seller of the property, said in a statement. “Paul was always accessible and provided excellent service, which resulted in a successful and seamless transaction.”

Trinity Hospitality purchased the property. “We were extremely happy with the performance of Paul Khosla, who provided all the needed support to make this acquisition very smooth for our company,” Vivek Tandon, CEO of Trinity Hospitality, said in a statement.

Hyatt Place Midtown is a select service property consisting of 126 rooms spread across six stories. There are several demand generators in the immediate area. Kane Realty, which is actively involved in the North Hills transformation, is part of a group that recently purchased the adjacent North Raleigh Hilton.

Located just off the I-440 beltline and three miles from downtown, Hyatt Place Midtown is situated near the shopping, dining and entertainment destination of North Hills.