Wednesday, December 7, 2016

HFF closes sale of Sheraton Dallas by the Galleria in Dallas, TX

Sheraton Dallas by the Galleria Hotel, Dallas, TX

John Bourret
DALLAS, TX, Dec. 7, 2016 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has closed the sale of the Sheraton Dallas by the Galleria, a 309-room, full-service hotel in Dallas’ Galleria submarket.

HFF marketed the property on behalf of the seller, HEI Hotels & Resorts.  A partnership between Driftwood Hospitality Management, LLC (Driftwood) and an institutional real estate investor purchased the asset.  Driftwood has assumed management of the hotel.

Sheraton Dallas by the Galleria is situated at 4801 Lyndon B. Johnson Freeway across from the nationally-recognized, 1.7 million-square-foot Galleria Dallas regional mall, which welcomes more than 19 million visitors annually. 

The hotel is at the intersection of LBJ Freeway and the Dallas North Tollway, considered the busiest intersection in the state of Texas.  More than 11 million square feet of office space is within a one-mile radius of the hotel.  Sheraton Dallas by the Galleria has received more than $12 million in capital improvements since 2012.

Daniel Peek
 The hotel features 13,741 square feet of function space across 21 meeting rooms; Front Yard, a full-service restaurant serving breakfast, lunch and dinner; Sheraton Club Lounge; a 24-hour fitness center; 24-hour business center and an outdoor pool.

The HFF investment sales team representing the seller was led by managing director John Bourret, associate director Austin Brooks and senior managing director and head of HFF’s hotel group Daniel Peek.

For a complete copy of the company’s news release, please contact:

Kristen M. Murphy
Director, Marketing
HFF | One Post Office Square, Suite 3500 | Boston, MA 02109
Main: 617-338-0990 | Direct: 617-848-1572 | Cell: 617-543-4873 |

No comments: