Press Release

CBRE Hotels Arranges Sale of Staybridge Suites Plano Frisco

06 3月 2018

CBRE Hotels has arranged the sale of the 101-room Staybridge Suites Plano Frisco, prominently situated at 8355 Parkwood Boulevard in Plano. McKinney-based Ascend Growth Partners purchased the asset from Granitepark-Parkwood LLC.

Staybridge Suites Plano Frisco is located near the Dallas North Tollway and Highway 121, a short distance from 4 major north Dallas corporations, the Shops at Legacy and Dr Pepper Ballpark. “The Plano North/Legacy market is among the most active areas in the state for new developments and economic growth. We were able to achieve the sale in a very short timeframe with marketing exposure limited to key, targeted clients,” said CBRE Senior Vice President Michael Yu.

A spokesperson for Ascend Growth Partners added, “This property will be a great addition to our portfolio of assets. It was a pleasure to work with everyone involved; the CBRE Team, Alliance Bank, our lead lender, and Metropolitan Capital, our capital advisors.”

Mr. Yu, Rahul Bijlani, and Agrama Mannapperuma from CBRE Hotels arranged the sale.

CBRE Hotels is a specialized group within CBRE providing advisory, asset management, capital markets, investment sales, research and valuation services to companies in the hotel sector. CBRE Hotels is comprised of more than 385 dedicated hospitality professionals located in 60 offices across the globe.

About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2021 revenue). The company has more than 105,000 employees (excluding Turner & Townsend employees) serving clients in more than 100 countries. CBRE serves a diverse range of clients with an integrated suite of services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.