Thursday, May 19, 2011

HFF closes sale of the Sheraton North Dallas in Dallas, TX

DALLAS, TX –HFF announced today that it has closed the sale of the Sheraton North Dallas (top left photo), a 309-room, REO hotel in Dallas, Texas.

HFF marketed the distressed property exclusively on behalf of the seller.  HEI Hospitality, LLC purchased the hotel for an undisclosed amount.  This is the second purchase in the submarket for HEI, who bought the Le Méridien last year, which was also marketed by HFF.

The Sheraton North Dallas is located at 4801 LBJ Freeway, across from the Dallas Galleria at the intersection of the LBJ Freeway and the Dallas North Tollway in northwest Dallas. 

Originally built in 1979, the property was renovated in 2009 and features 14,000 square feet of newly renovated meeting space, a full-service restaurant, 24-hour fitness center, indoor/outdoor swimming pools, a club lounge, the Link@Sheraton, dry cleaning service and shuttle service within the surrounding area.

The HFF team representing the seller was led by senior managing director Dan Peek (lower right photo) and director John Bourret (bottom left photo).

Daniel Peek, HFF Senior Managing Director, (813) 870-1001,
John Bourret, HFF Director, (214) 265-0880,
Kristen Murphy, HFF Associate Director, Marketing, (713) 852-3500

No comments: