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| Le Meridian Dallas by the Galleria Hotel, Dallas, TX |
DALLAS, TX, July 21, 2015
– Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has closed the
sale of and secured acquisition financing for Le Méridien Dallas by the Galleria, a 258-suite, upscale hotel in
Dallas, Texas.
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| John Bourret |
HFF marketed the property
on behalf of the seller, a partnership between Arden Group, Inc. and HEI Hotels
& Resorts. NB Holdings purchased the
asset for an undisclosed amount.
Additionally, HFF worked on behalf of the new
owner to place the 10-year, fixed-rate acquisition loan with Principal
Commercial Capital, part of Principal Real Estate Investors.
Le Méridien Dallas by the
Galleria is an all-suite, upscale, 11-story hotel with a contemporary, European
aesthetic.
Originally constructed in
2002, the hotel underwent substantial renovations in 2009 when it was converted
into a Le Méridien.
Hotel amenities include
the recently renovated fitness center, 5,079 square feet of meeting space,
indoor heated swimming pool, 24-hour business center and concierge service.
Le Méridien Dallas by the Galleria is situated
on 2.975 acres in the North Dallas Galleria market, a retail, office and
entertainment district positioned at the city’s major intersection of
Interstate 635 (LBJ Freeway) and the North Dallas Tollway.
 |
| Brian Carlton |
Located at 13402 Noel
Road, the hotel is across the street from the Dallas Galleria, a 1.8
million-square-foot, nationally-recognized destination mall that is the second
most popular tourist attraction in North Texas with approximately 19 million
visitors a year.
Additionally, the hotel is
surrounded by Class A office space serving as regional and national
headquarters for major companies, including Coca-Cola, Frito Lay and Mary Kay
Cosmetics.
The HFF investment sales
team representing the seller was led by senior managing director and head of
HFF’s hotel group and managing director John
Bourret.
The HFF debt placement
team representing the new owner was led by senior managing director Brian Carlton.
For a complete
copy of the company’s news release, please contact:
Kristen M. Murphy
Associate Director
HFF | One Post Office
Square, Suite 3500 | Boston, MA 02109
Main: 617-338-0990 |
Direct: 617-848-1572 | Cell: 617-543-4873 | www.hfflp.com
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