HFF Closes Sale of Award-Winning Hilton Dallas Park Cities Hotel
DALLAS, TX. June 20, 2017 - Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has closed the sale of Hilton Dallas Park Cities, a 224-room, AAA Four Diamond hotel in Dallas' Preston Center.
HFF marketed the property on behalf of the seller. Woodbine Legacy Investments (WLI) purchased the hotel, which is the new fund's inaugural purchase.
The 11-story Hilton Dallas Park Cities was completed in 2001 and extensively renovated between 2012 and 2013. The hotel features an array of amenities, including a heated outdoor rooftop pool with city views, business center, fitness center, HHonors lounge, 10,259 square feet of meeting and event space, lobby bar and Grain full-service restaurant. Situated on almost a full acre at 5954 Luther Lane, the hotel is located in the heart of Preston Center, the city's most prestigious office district. The property is bordered by some of Dallas' most affluent neighborhoods and the Dallas North Tollway, providing guests access to demand generators, including Southern Methodist University, the two million-square-foot NorthPark Center mall and 3.1 million square feet of Class A office space.
The HFF investment sales team representing the seller was led by managing director John Bourret and associate director Austin Brooks.
About Woodbine Legacy Investments
Woodbine Legacy Investments is a real estate investment platform that focuses on branded, boutique and independent hotel acquisitions and investments across the United States. Capitalized by select family offices, foundations and institutions, WLI pursues lower-risk, conservatively leveraged, full-service and select-service hotel assets in top-tier markets that offer long-term cash-flow opportunities for investors. The fund is led and owned by Woodbine Development Corporation. To learn more, email [email protected].
About HFF
Holliday Fenoglio Fowler, L.P., HFF Real Estate Limited (collectively, “HFF”), HFF Securities L.P. and HFF Securities Limited (collectively, “HFFS”) are owned by HFF, Inc. (NYSE: HF). HFF and its affiliates operate out of 24 offices and are a leading provider of commercial real estate and capital markets services to the global commercial real estate industry. HFF, together with its affiliates, offers clients a fully integrated capital markets platform including debt placement, investment sales, equity placement, funds marketing, M&A and corporate advisory, loan sales and loan servicing. For more information please visit hfflp.com or follow HFF on Twitter @HFF. Holliday Fenoglio Fowler, L.P. acting by and through Holliday GP Corp, a Texas licensed real estate broker.
CONTACTS:
JOHN BOURRET
HFF Managing Director
[email protected]
(214) 265-0880
AUSTIN BROOKS
HFF Associate Director
[email protected]
(214) 265-0880
KRISTEN MURPHY
HFF Director, Public Relations
[email protected]
(617) 338-0990
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