HFF Completes Sale of 4-Property Aloft-Hotel Portfolio in Texas
- May 06, 2015
Acting on behalf of an unidentified client, commercial real estate services provide HFF has completed the sale of a 549-room portfolio of Aloft-branded hotels in Texas.
The largest of the group, by just a few rooms, is the 141-key Aloft San Antonio, located at 838 NW Loop 410 in San Antonio. Completing the portfolio are the 136-room Aloft Las Colinas at 122 E. John Carpenter Freeway in Irving, and just outside of Dallas, the 136-room Aloft Frisco at 3202 Parkwood Blvd. in Frisco.
All three properties made their debut during a five-month period ending in March 2009, having been developed by a joint venture that included Champ Hospitality, Aimbridge Hospitality and others.
Part of the Starwood Hotels & Resorts collection, Aloft is a trendy lifestyle brand that was introduced seven years ago. The flag has seen a great deal of investor interest of late and HFF has had its hands on more than a few of these deals. Earlier this year, the commercial real estate services firm orchestrated the disposition of the 152-room Aloft Houston Galleria on behalf of HEI Hospitality. The 135-key Aloft Raleigh in Raleigh, N.C., will open its doors this fall, thanks in part to a $16.6 million construction loan that HFF orchestrated last year for the developer, a joint venture consisting of The Bernstein Cos., TME Investments and Michael Sandman. And the 330-key Aloft Boston Seaport will sprout up on a three-acre site along with an Element Hotel in 2016, courtesy of a $97 million construction loan arranged by HFF for the Ares Management and CV Properties’ development of the two hotels.