Newstream Capital

Texas Frims Buys Little Rock - Newstream

TEXAS FIRM BUYS LITTLE ROCK HOTEL IN $10.4M DEAL

The 263-room Four Points by Sheraton hotel in Little Rock has been sold to a Texas firm for $10.4 million, according to a warranty deed last month.

Al Rajabi and his Windsor Capital sold the Four Points by Sheraton, at 925 S. University Ave., to Newstream Hotel Partners of Roanoke, Texas. Rajabi bought the Little Rock hotel, which was built in 1976, in 2014 for $5 million and signed on to the Sheraton brand. It also has been part of the Hilton and Clarion chains over the years.

Rajabi also bought the Arlington Hotel in Hot Springs last year and announced a renovation plan of more than $40 million.

Newstream said on its website that its new Little Rock property underwent a $20 million renovation in 2004, in addition to an $8 million renovation by Rajabi in 2016.

— Stephen Steed

 

 

 

Share this News

Share on facebook
Share on linkedin
Share on twitter
Share on pinterest
Share on reddit
Share on tumblr

CATEGORY

Project Videos

Regional Article

Regional Research

Uncategorized

ARCHIVES

2021

2020

2019

2018

2017

2016

Related News

ROANOKE Just when you thought Roanoke already had a variety of dining choices, Craft & Vine Taproom and Eatery has come to town with a “farm to table” concept and 72 beer and wine taps. Craft & Vine, 310 Oak St., recently…
Southlake resident and President and CEO of Newstream Companies Tim Nystrom says he was attracted to entrepreneurial opportunities from an early age. After graduating from Baylor University, he purchased a Smoothie King franchise, which…