HREC Arranges Sale of the DoubleTree Dallas Farmers Branch Dallas, Texas
DENVER, CO. / DALLAS, TX. November 24, 2016 - HREC Investment Advisors is pleased to announce it arranged the sale of the 160-guestroom DoubleTree Dallas Farmers Branch located in Farmers Branch, a suburb of Dallas, Texas.
Mike Armstrong, Principal with HREC Investment Advisors, exclusively represented the seller, Presidian Hotels, a leading hospitality management and ownership company. Presidian developed the hotel in 1999.
The buyer is Glacier House Hotels, an owner, operator, and developer of Hilton, Marriott, Starwood, and IHG branded hotels primarily in the western United States. Glacier recently closed on another three hotels and is actively pursuing additional acquisitions and new development opportunities.
“The Doubletree Hotel received significant investor interest due to the premium brand, the high quality of the physical facility and the strong Dallas/Fort Worth market. After Glacier House Hotels completes a property improvement plan, the hotel will be well-positioned to increase its market penetration and cash flow,” commented Mike Armstrong.
The Hotel is located roughly 14 miles northwest of the center of Dallas. Dallas Fort Worth International Airport is located under ten miles from the Property. In addition, the Dallas Love Field Airport is only ten miles away. The convenient location in between the two airports and the ease of access to Las Colinas, North Dallas, and Downtown Dallas makes the hotel appeal to both business and leisure travelers to the Dallas/Fort Worth area.
About HREC®: HREC® is the nation's leading lodging and gaming real estate advisory firm specializing in property sales, mortgage brokerage, equity/JV structuring, consulting (market studies and appraisals), and litigation support. With offices throughout North America, HREC® is distinguished by unwavering commitment to client service and success through its team approach, intellectual capital and hotel/casino specialization.
For addition information on the property, please contact:
Mike Armstrong
Principal
marmstrong@hrec.com
760.452.2255
Ashley Hunt
Director of Marketing
ahunt@hrec.com
303.267.0057
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