LXMI Capital Acquires TownePlace Suites by Marriott in McKinney, Texas

HVS Brokerage & Advisory has facilitated the sale of the TownePlace Suites by Marriott Dallas McKinney, an 88-key hotel located in McKinney, Texas, to LXMI Capital.

HVS Brokerage & Advisory announced the completion of the sale of the TownePlace Suites by Marriott Dallas McKinney, a hotel with 88 rooms, situated at 1832 Marketplace Drive in McKinney, Texas. The transaction involved the sale of the property from Champion Hotels and Jain Hotels, based in Oklahoma City and Tulsa, Oklahoma, respectively, to LXMI Capital, an Austin-based company.

The TownePlace Suites by Marriott, constructed in 2016, is strategically located near U.S. Highway 75 and State Highway 121, providing accessibility to a variety of dining, retail, and entertainment options. The hotel is less than 4 miles from McKinney National Airport. It is close to several corporate entities, including Raytheon, Aramark, and Global Life Inc. Additionally, the location is near leisure attractions such as District 121, Allen Premium Outlets, and McKinney ISD Stadium.

The sale process was conducted off-market, ensuring a confidential transaction that did not interfere with the hotel’s daily operations. This approach was crucial for the selling parties, and HVS Brokerage & Advisory managed the process by identifying a suitable buyer, Tony Gupta of LXMI Capital, who also owns the adjacent Sheraton property.

The HVS Brokerage & Advisory team involved in the transaction included Eric Guererro, Andrew Frosch, Matt Almy, Fadi Rawashdeh, Kyle Peterek, and Daneen Godinet. The sale highlights the economic growth in McKinney and the strategic fit of the extended-stay product and Marriott brand affiliation with the buyer’s existing property portfolio.