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| Holiday Inn Dallas Market Center Hotel, Dallas, TX |
DALLAS, TX – Holliday Fenoglio Fowler, L.P. (HFF) announced
it has secured a $10.35 million refinancing for Holiday Inn Dallas Market Center, a 200-room, full-service hotel in
the Dallas Market Center in Dallas, Texas.
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| Michael Cosby |
HFF worked on behalf of
the borrower, a partnership between Tom
Corcoran and Prism Hotels & Resorts, to place the three-year,
floating-rate loan with two one-year extensions with Realty Finance Trust
through its regional office in Dallas.
Loan proceeds will be used
to retire existing financing and free up capital for upgrades to the property.
The Holiday Inn Dallas
Market Center is located at 4500 Harry Hines Boulevard in north central Dallas
proximate to the 110-acre Dallas Market Center which, at more than 5.5 million
square feet is the largest wholesale market center in the world, and the Dallas
Medical District, which spans six million square feet and includes University of
Texas Southwestern Medical Center, Parkland Hospital, Children’s Hospital and
Texas Woman’s University.
Holiday Inn Dallas Market
Center underwent extensive renovations in 2007 and 2008 when it was converted
into a Holiday Inn hotel and will continue to be updated in the coming months
and years.
The hotel features a
health and fitness center, outdoor pool, business center, 1,258 square feet of
meeting space, and a sports bar and restaurant, which serves breakfast, lunch
and dinner.
The HFF debt placement
team representing the borrower was led by associate director Michael Cosby and managing directors John Bourret and Daniel O’Donnell.
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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