HFF Closes Sale of the Sheraton North Dallas in Texas
DALLAS, TX - May 19, 2011 - HFF announced today that it has closed the sale of the Sheraton North Dallas, 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 Meridien 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 and director John Bourret.
Holliday Fenoglio Fowler, LP (“HFF”) and HFF Securities LP (“HFFS”) are owned by HFF, Inc. (NYSE: HF). HFF operates out of 19 offices nationwide and is a leading provider of commercial real estate and capital markets services to the U.S. commercial real estate industry. HFF together with its affiliate HFFS offer clients a fully integrated national capital markets platform including debt placement, investment sales, advisory services, structured finance, private equity, loan sales, and commercial loan servicing. www.hfflp.com.
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