3 Hyatt Place hotels sold to BPR Properties

BPR Properties has purchased the Hyatt Place North Raleigh/Midtown and Hyatt Place Greensboro in North Carolina and the Hyatt Place Columbia/Harbison in South Carolina, with a total of 378 rooms. The $30 million acquisition is part of BPR’s plan to use its newly formed hospitality capital management firm, Piedmont Summit Capital, to acquire hotel assets. The new owner said it would invest $3 million in renovations to the properties. Read the American City Business Journals/Greensboro/Winston-Salem, N.C. story here