Historic Hotel Lawrence sells in Downtown DallasHistoric Hotel Lawrence sells in Downtown Dallashttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=65422013-08-21T15:53:00Z2013-08-21T00:00:00Z

DALLAS - The 120-room, ten-story Hotel Lawrence, located at 302 South Houston St. in downtown Dallas, has been acquired by Mehul Patel of BMR Dallas Downtown Investments LLC.

Patel purchased the hotel from TM-Lawrence Hospitality LLC with plans to fully renovate the hotel and bring an upscale franchise to the property. The Hotel Lawrence includes five meeting spaces, a business center, a fitness center, restaurant and bar. Construction will start in fourth quarter 2013, according to Patel.

The 88-year-old hotel, originally called the Scott and built for $500,000, once housed train travelers and is steeped in the lore of a ghost known as Jack "Smiley" Jackson.

Patel owns and operates more than 24 hotels and motels in Dallas-Fort Worth, but this is his first acquisition in downtown Dallas.

Hotel Lawrence is the second historic downtown hospitality property to change hands recently. In December, RockBridge Capital acquired the landmark Adolphus on Commerce St.

Dallas Business Journal
Dallas-Fort Worth-Arlington
http://www.bizjournals.com/dallas/news/2013/08/20/historic-hotel-in-downtown-dallas-sells.htmlRead more at {Source}

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