Sold: Investor scoops up 126-room North Hills hotel
This article originally appeared in the Triangle Business Journal on August 21, 2018.
A hotel investor and developer has sold his North Hills property less than four years after acquiring the property from Hyatt Hotels Corp. (NYSE: H)
BPR Properties finalized the sale earlier in August, departing with the hotel on Navaho Drive for $12.9 million, according to Wake County real estate records.
The High Point-based company has been active in North Carolina recently, buying, selling and planning lodging development, including a 19-story hotel in uptown Charlotte.
The sale in North Hills is more than a $3 million increase over the $9.845 million BPR paid for the hotel in 2014, when it acquired the north Raleigh Hyatt as part of a larger deal that included two other Hyatt properties in North Carolina and South Carolina.
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