Driftwood Buys 231-Key Dallas Lakefront Hotel
- Jan 03, 2018
Driftwood Acquisitions & Development LP has acquired the Hilton Dallas/Rockwall Lakefront, a 231-key, full-service hotel in the Dallas-area community of Rockwall, Texas, from TRC Capital Partners LLC. HFF represented the seller in the transaction.
The five-story hotel is located in The Harbor mixed-use development on Lake Ray Hubbard, Dallas’ premier 460,000-square-foot mixed-use waterfront destination in one of Texas’ fastest-growing cities. It is only about 25 miles from downtown Dallas and is close by numerous shopping, dining and entertainment options. Originally constructed in 2008 and renovated in 2017, the hotel is situated on 8.92 acres on the eastern side of Lake Ray Hubbard at 2055 Summer Lee Drive with an adjacent 1.9 acres available for additional development.
The Hilton Dallas/Rockwall Lakefront features 231 rooms including 16 suites, and four themed suites. Amenities include, resort-style outdoor pool, a fitness center, plus 31,532 square feet of flexible meeting space and three food and beverage options. The hotel also boasts the Pergola, a recently opened 3,479-square-foot outdoor venue with unobstructed lake views.
The HFF team was comprised of Managing Director John Bourret and Director Austin Brooks.
Texas has seen its fair share of hotel news in the past nine months. In April, construction began on a $91 million Delta by Marriott Hotel and attached convention center, scheduled to be one of the largest facilities of its kind in North Texas when it opens later this year. A month earlier, Westdale and KDC teamed to construct The Epic, a mixed-use, transit-oriented development in Dallas’ Deep Ellum neighborhood, which had planned hotel space for when it opens in 2019.
Since launching in 2015, Driftwood Acquisitions & Development’s portfolio has grown to 11 acquisitions and four new-build developments, with a pipeline of many other diverse hotel and resort properties across the U.S.
Photo courtesy of HFF