DALLAS, TX – HFF announced today that it has arranged $43 million in financing for Hilton DFW Lakes (top left photo), a 395-room, full-service hotel and conference center in Grapevine, Texas.
HFF worked exclusively on behalf of the borrower, a joint venture led by Somera Capital Management, LLC along with affiliates of Zelman Development Company and Quorum Hotels & Resorts, to secure the adjustable-rate loan through Cornerstone Real Estate Advisers.
The lender was represented in-house by Tom Cross. The “award-winning” Hilton DFW Lakes is located at 1800 Highway 26 East close to the DFW International Airport and equidistant between Dallas and Fort Worth.
The property features two nine-story guest room towers plus 60,000-square feet of meeting space and a 14,400-square-foot exhibit hall.
Hotel amenities include four restaurants, an indoor and outdoor pool, fitness center, basketball, tennis and volleyball courts, a private lake and horseback riding.
The HFF team representing the borrower was led by director John Bourret (middle right photo) and senior managing directors Dan Peek (middle left photo) and Paul Brindley (lower right photo).
Somera Capital Management, LLC is a boutique real estate investment firm that was founded in 1994 to acquire and manage value-added real estate investments on behalf of its principals and third party investors. www.someracapital.com
Zelman Development Company is a privately-owned commercial real estate development company headquartered in Los Angeles, California.
Quorum Hotels & Resorts is an independent, Dallas-based hotel operator that has provided management and advisory services to over 163 full service hotels (51,000 rooms) since 1987, and is an approved operator of all major franchises including Hilton, Intercontinental, Marriott, and Starwood products. www.quorumhotels.com.
Contacts
John Bourret, HFF Director, (214) 265-0880, jbourret@hfflp.com
Kristen Murphy, HFF Associate Director, Marketing, (713) 852-3500
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