Davidson Hotels, Silverpeak Real Estate Acquire 499-Key Hyatt Regency in Indianapolis
- Feb 16, 2015
by Adriana Pop, Associate Editor
Georgia-based Davidson Hotels & Resorts has joined forces with Silverpeak Real Estate Partners of New York to acquire the iconic 22-story Hyatt Regency in downtown Indianapolis from Hyatt Hotels Corpn. Terms of the deal were not disclosed.
The 499-room property, which ranks as the city’s fourth largest hotel, was built in 1977 and underwent a $20 million renovation in 2012.
Located at One S. Capitol Ave., Hyatt Regency Indianapolis offers easy access to a variety of local attractions, including the Children’s Museum of Indianapolis, Conner Prairie Interactive History Park and the Indianapolis Motor Speedway. It is also connected to the PNC Center via an atrium and to the Indianapolis Convention Center, Lucas Oil Stadium, Circle Center Mall and the Arts Garden via climate controlled walkways. Amenities include more than 35,000 square feet of meeting space, indoor swimming pool, 24-hour fitness center, bicycle rentals and several dining options, including the rotating Eagle’s Nest rooftop restaurant.
Davidson, which will also operate the hotel, is planning to further upgrade the guest rooms, lobby, meeting space, as well as the food and beverage outlets. The property will be the ninth Hyatt-branded lodging facility the company has under its management.
“Davidson has enjoyed a long and successful relationship with Hyatt, and that familiarity will ensure a seamless transition of ownership and management,” John Belden, Davidson’s president and CEO, said in a prepared statement.
Davidson operates one of the highest quality portfolios in the industry. With 39 high-end properties under its management, the company is a trusted partner and a preferred operator for Marriott, Hilton, Hyatt and Starwood Family hotels.
Silverpeak is a diversified real estate investment manager with more than $14 billion of real estate assets under its management across the U.S.