3 extended-stay hotels sell for $21 million
by January 29, 2026 12:19 pm 1,103 views
Two four-story, 121-room hotels and one three-story, 101-room hotel all along Interstate 49 in Washington County recently changed hands for a combined $21 million. The purchase price equals $61,224 per room.
Affiliates of McDonough, Ga.-based Natson Hotel Group paid $8.75 million for the Extended Stay America Select Suites on 1.6 acres at 4397 Dixie Industrial Ave. in Springdale, paid $7.25 million for the Extended Stay America Select Suites on 3.7 acres at 2638 W. Old Farmington Road in Fayetteville, and paid for $5 million for the Extended Stay America Select Suites on 2.54 acres at 5000 Luvene Ave. in Springdale. Natson Hotel Group is a hotel investment and management company led by CEO Sam Patel.
The sellers were affiliates of Charlotte, N.C.-based Extended Stay America. An affiliate of Denver-based investment management firm ArrowMark Partners provided a two-year loan of up to $102 million. Waco Title Co. was the title agent.
The 43,084-square-foot hotel on Dixie Industrial Avenue was built in 2008. The 43,232-square-foot hotel on Old Farmington Road was built in 2007. The 42,744-square-foot hotel on Luvene Avenue was built in 2001.
The hotels on Dixie Industrial Avenue and Old Farmington Road were rebranded from WoodSpring Suites. They were formerly known as Value Place, the Wichita, Kan.-based brand that acquired the properties for a combined $4.84 million in April 2014. The sellers were affiliates of CSK Hotels, a Fort Smith-based real estate investment, development and management company.
An Extended Stay America affiliate bought the Luvene Avenue land for $550,000 in March 2001. The seller was Highway 71 Associates Limited Partnership.