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Commercial Real Estate Development Company Secures 12-Acre Site to Develop First Ground-Up Unscripted Hotel by Dream Hotel Group FLOWER MOUND, TEXAS (September 27, 2017) — Newstream Commercial today announced $11.2 million in private financing for the acquisition and development of a 12-acre commercial site located in the heart of the Lakeside DFW upscale community of Flower Mound, Texas.

Spectrum Origination, LLC provided a $7.1 million variable-rate land acquisition and development loan. Spectrum Origination is an affiliate of Spectrum Group Management LLC, a New York based, registered investment advisor.

Private equity investors contributed $4.1 million of equity capital to secure the transaction in preparation for its Unscripted Hotel anchor tenant.

Located at 500 Long Prairie Road in the town of Flower Mound, Texas, just five miles and two green lights north of Dallas-Fort Worth International Airport, the Lakeside Crossing development will include a 66,200-square-foot, five-story hotel and hospitality venue by Dream Hotel Group, 15 three-story luxury townhomes by Dynasty Luxury Homes, four professional office buildings and two exclusive retail and restaurant facilities, all totaling more than 200,000 square feet of prime commercial real estate.

The upscale hotel will be part of Unscripted Hotels, a new lifestyle and hospitality concept designed for the progressive creative traveler by Dream Hotel Group. Slated to open in 2019, Unscripted DFW will feature 134 guest rooms and suites, a full-service restaurant, a spacious rooftop lounge with dramatic sunset views and live entertainment overlooking Lake Grapevine, and nearly 4,000 square feet of meeting space.

The site plan was developed by locally recognized G&A Consultants engineering firm and Marcus Trimble, AIA, Professional Architecture & Design.

The financing placement team was led by George Galloway of Galloway & Gilliland Law Firm and Rob Lawson, COO/CFO and partner of Newstream Commercial, LLC.

Scott Tarwater, President of Newstream Hotels and Resorts, was instrumental in locating this site and obtaining proper zoning approval, stating: “Lakeside Crossing will be the gem of Flower Mound, bringing a unique blend of upscale modernism and town culture together in a beautiful natural setting.”

Tim Nystrom, President/CEO of Newstream Commercial, set the foundation for the vision of Newstream Commercial, noting: “It is a beautiful thing when your vision becomes reality and we thank all of our partners and supportive relationships for making this dream come true. We especially want to thank Flower Mound Mayor Tom Hayden and his team of professionals who worked tirelessly to support Lakeside Crossing.”


Dream Hotel Group is a hotel brand and management company with a rich, 30-year history of managing properties in some of the world’s most highly competitive hotel environments. Home to its Dream Hotels, Time Hotels, The Chatwal and Unscripted Hotels brands, Dream Hotel Group encompasses three business lines: Proprietary Brands, Hotel Management and Dining & Nightlife. The Company is committed to the philosophy that forward-thinking design, service and guest experiences should be available across market segments. Dream Hotel Group is dedicated to offering travelers an authentic connection to their chosen destination through a truly original approach.


Newstream Hotels and Resorts is the hospitality division of Newstream Commercial, a Dallas commercial real estate development company founded in 2015. Newstream prides itself on offering exceptional commercial property development founded on core Christian principles and bringing a high degree of character and trustworthiness. Newstream has recently completed 2 mixed-use commercial buildings in Roanoke, Texas featuring Craft & Vine Taproom & Eatery, Wise Guys Pizzeria, Foster’s fine sushi and Newstream Commercial’s new corporate headquarters.


Founded in 1999, Spectrum Group Management is an alternative asset management firm that focuses on investing in the real estate, high-yield, special situations, and asset-based credit markets.



Newstream Commercial, COO/CFO & Partner

(817) 464-8190

[email protected]


Town of Flower Mound, Communications Manager

(214) 223-0534

[email protected]


Dream Hotel Group, Vice President, Communications & PR

(212) 474-9890

[email protected]


Spectrum Group Management LLC, Principle/Head of Real Estate Investing

(212) 687-9555

[email protected]

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A development firm has been given the green light by the Town of Flower Mound to build a 12-acre mixed-use neighborhood adjacent to Lakeside DFW, which includes a five-story, 134-room hotel.

The mixed-use development, called Lakeside Crossing, will sit on the west side of Long Prairie Road near the intersection of Lake Forest Boulevard, and will also include about 100,000 square feet of retail, office and restaurant space with about 15 luxury townhouses.

Keller-based Newstream Commercial, which is affiliated with Newstream Hotels & Resorts, plans to soon begin building the hotel — flagged by Dream Hotel Group’s Unscripted Hotels brand — for it to open in 2019.

The Unscripted DFW hotel will include 134 guest rooms and suites with nearly 4,000 square feet of meeting space, a full-service restaurant and a rooftop lounge for guests. This is the first ground-up build for the brand, officials said.

Dream Hotel Group CEO Jay Stein said this concept will add to the community of the Town of Flower Mound.

“The Dallas-Fort Worth area, specifically the Town of Flower Mound, is one of the most exciting and welcoming places in the U.S., and it’s our goal to introduce new concepts that reflect and enrich the place it calls home,” he said, in a statement.

Mayor Pro Tem Don McDaniel said the hotel will give the town’s business travelers another lodging option with even more dining and shopping from the Lakeside Crossing mixed-use development for residents.

By having Lakeside Business District, Director of Economic Development Andrea Roy said the town has been able to retain some of its existing growing businesses — and she expects to same to happen with this extension of the district.

The Town of Flower Mound assisted with the project. The details of the economic incentives offered by the town were not immediately available.


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The design of Lakeside Crossing will incorporate stone and wood into the architecture to reflect the natural Texas surroundings. Newstream Commercial is the developer of the project.

Newstream Hotels & Resorts President Scott Tarwater — who is also building a hotel project in McKinney’s Craig Ranch— said it has been a dream come true to bring a development like Lakeside Crossing and the upscale hotel to his hometown of Flower Mound.

There’s been a spree of hotel developments throughout North Texas, with developers building projects based on solid RevPAR stats in the region. The influx of companies and residents into Dallas-Fort Worth has bolstered these fundamentals, real estate sources say.

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Labeling the Flower Mound Town Council and staff support on Monday for the Lakeside Crossing Development as enthusiastic is an understatement.

Council members passed both the rezoning request and the financial Chapter 380 Agreement for the 12-acre mixed-use development located just south of Lakeside DFW, between FM 2499 and Northwood Drive.

The environmentally-protected north-south central area features an intermittent stream surrounded by natural green-space.

“This [approved rezoning from Agricultural and Campus Commercial] will make the property all one zoning,” said Doug Powell, executive director of Development Services. He added that the developers had showed a “good-faith effort” to amend the previous concept plan concerns voiced by Planning and Zoning Commissioners during the May 5 meeting.

The heart of the development is the Unscripted Hotel, located at the north side of the development. The Flower Mound location will be the first ground-up build for the Dream Hotel Group brand. The New York-based hotel group is partnering with Flower Mound’s own Scott Tarwater’s Newstream Hotels and Resorts, the Newstream Commercial development group and G&A Consultants to construct the entire project.

Mayor Pro Tem Don McDaniel pointed to the developer’s addition of pedestrian and vehicular connectivity to the Lakeside DFW development to the north, as well as the peripheral building and plaza placement to maintain the natural center.

“The buildings were placed to take advantage of the ephemeral stream and the southern outcroppings,” he said. The hotel and interior office buildings’ views overlook the whole central natural setting green-space.

Deputy Mayor Pro Tem Kevin Bryant also pointed to a requested exemption by the developer was to add, not reduce, parking spaces, plus burying existing utility lines.

In addition to the hotel, Lakeside Crossing will include approximately 100,000-square-feet of retail, office and restaurant space, in addition to approximately 15 luxury townhomes. The overall design of Lakeside Crossing will have a unique design incorporating stone and wood architectural features echoing its natural surroundings. The Unscripted Hotel DFW will be the first building developed.

“The inspiration behind the design elements was to preserve the views– from the inside to the outside; and, from being surrounded by nature on the lower levels, up to being in the tree canopy on the highest levels,” said Randi Rivera with G&A Consultants in her presentation for the 66,000-square-feet, five-story hotel.

“The Dallas/Fort Worth area, specifically the Town of Flower Mound, is one of the most exciting and welcoming places in the U.S.; and, it’s our goal to introduce new concepts that reflect and enrich the place it calls home,” said Jay Stein, CEO, of the Dream Hotel Group.

Responding to Council member Jason Webb’s question about how the hotel will be marketed to draw its guests to Flower Mound, Newstream Commercial President Tim Nystrom replied the target visitors are Gen X, Millennials and Gen Z populations.

“It will have a social gathering that emphasizes connectivity and an upscale lifestyle brand that values fewer high-quality things over accumulating more; and, a ‘being alone together’ communication style,” he said.

He added that being only two green-lights from DFW International Airport will attract business travelers– especially from Japan dealing with Kubota Tractors. It will also attract Flower Mound residents’ family visitors, “staycationers” and overflow guests from Great Wolf Lodge and the Gaylord Texan in Grapevine.

In a telephone interview from Colorado, Scott Tarwater said: “It’s truly a dream come true. We are just thrilled at the result.”

Unscripted DFW will be his 80th hotel built from the ground up– including the Flower Mound Courtyard by Marriott at The River Walk– but it’s the one he’s most proud of; because it’s on his family’s homestead.

“[Mayor] Tom [Hayden], [Town Manager] Jimmy [Stathatos] and Doug Powell and his whole staff have really been a dream– no pun intended– to work with,” he said. “They worked day and night to help make this work. Everyone on all sides have worked for a common goal.”

The anticipated groundbreaking is scheduled for either November or December 2017, with an opening in the first quarter of 2019. Unscripted DFW will feature 134 guest rooms– including two king- and queen-suites each– plus a full-service restaurant and 24-hour room service, a rooftop lounge and terrace bar, a pool with surrounding patio area, plus nearly 4,000-square-feet of meeting space.

“The Lakeside Crossing Development will be a wonderful addition to the Lakeside Business District; offering a mix of office, retail and restaurant space, all located in a setting that has been carefully designed to take advantage of the natural beauty of the site,” said Director of Economic Development Andrea Roy. “Already, the project has provided the opportunity to retain some of our existing growing businesses that would have otherwise relocated to meet their expanding space needs.”

The willingness of the developers and town staff to work together and bring a quality project to Flower Mound sets a positive precedence for future developments.

“Isn’t that the way it’s supposed to be,” said Tarwater.