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| Sheraton Dallas by the Galleria Hotel, Dallas, TX |
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| 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.
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| 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 | www.hfflp.com
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