A Florida Hospitality firm buys the famous Plano hotel

According to county records, a Florida Hospitality firm has bought the Hilton Granite Park Hotel, financed by a $56.8 million loan.

Florida’s hospitality firm has bought a high-profile Plano hotel. County records show that the company based in Driftwood Capital and represented by North Palm Beach bought the 299-room Hilton Granite Park hotel that opened in 2014. The company was able to buy the hotel with a loan of $56.8 million.

Situated at the southeast corner of the Dallas North Tollway, along State Highway 121, the nine-story hotel, along with a conference center, is said to be part of the 90-acre Granite Park development.

The CEO of Driftwood Capital, Carlos Rodriguez Sr., said in a statement that they were fortunate to be able to find and buy a high-quality, cash flowing hotel in a prime location.

Dallas architect BOKA Powell created the $80 million full-service hotel, developed by Granite Properties. The building is said to surround the Granite Park project.

Driftwood manages more than 69 hotels with more than 13,000 rooms across the US and Latin America. The Sheraton Dallas Galleria, Hilton Rockwall Lakefront, and Hilton Southlake Town Square are just a few of the properties it oversees.

The mixed-use development also has six office towers, a restaurant complex, and the Hilton Hotel. The latest 19-story Granite Park Six office tower by Granite Properties is being completed on S.H. 121.