The 263-room Four Points by Sheraton hotel in Little Rock has been sold to a Texas firm for $10.4 million, according to a warranty deed last month.
Al Rajabi and his Windsor Capital sold the Four Points by Sheraton, at 925 S. University Ave., to Newstream Hotel Partners of Roanoke, Texas. Rajabi bought the Little Rock hotel, which was built in 1976, in 2014 for $5 million and signed on to the Sheraton brand. It also has been part of the Hilton and Clarion chains over the years.
Rajabi also bought the Arlington Hotel in Hot Springs last year and announced a renovation plan of more than $40 million.
Newstream said on its website that its new Little Rock property underwent a $20 million renovation in 2004, in addition to an $8 million renovation by Rajabi in 2016.
— Stephen Steed
