Tuesday, July 21, 2015

HFF secures $10.35 million refinancing for Holiday Inn Dallas Market Center

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.  

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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