HFF Shows Hospitable Side in Dallas
- Jul 28, 2015
By Liviu Oltean, Associate Editor
With more than 22.6 million visitors to Dallas each year, it’s no wonder the city’s hospitality sector continues to grow and investors keep on knocking on doors such as HFF’s. The financing firm announced two recent deals.
The firm secured a $10.3 million refinancing for Holiday Inn Dallas Market Center, a 200-room, full-service hotel located at 4500 Hines Blvd. in north central Dallas. HFF’s debt placement team represented the borrower, a partnership between Tom Corcoran and Prism Hotels & Resorts. The team was led by Associate Director Michael Crosby and Managing Directors John Bourret and Daniel O’Donnell.
HFF also announced that it has secured acquisition financing and closed the sale of Le Méridien Dallas by the Galleria, an 11-story, 258-suite hotel located in the north Dallas Galleria submarket. HFF marketed the property on behalf of the seller, a joint venture formed by Arden Group Inc. and HEI Hotels & Resorts. The buyer was NB Holdings, which acquired the asset for an undisclosed amount.
The upscale hotel was constructed in 2002 and underwent extensive renovation in 2009. It features a fitness center, 5,079 square feet of meeting space, an indoor heated swimming pool and a 24-hour business center and concierge service.
Image courtesy of Starwood