DALLAS, TX—Holliday Fenoglio Fowler, L.P. (HFF) announces the $23.375 million acquisition financing for a two-property hotel portfolio totaling 190 rooms in Grapevine, Texas, near the Dallas/Fort Worth International Airport.
Working on behalf of the borrower, Dallas-based Atlantic Hotels Group, the HFF team placed the three-year, fixed-rate loan with two one-year extensions with a subsidiary of Resource Capital Corp. Loan proceeds were used to acquire the portfolio.
The portfolio comprises the 94-room Hampton Inn & Suites Dallas-DFW Airport North-Grapevine at 1750 TX-121 and the 96-room Comfort Suites DFW Airport North Grapevine at 1805 Enchanted Way. The portfolio properties are located at the entrance to the Dallas/Fort Worth International Airport and at the intersection of TX-121 and Interstate 635, which provides access to the entire DFW metro area. The Hampton Inn & Suites was completed in 2000 and features a business center, meeting rooms, breakfast area, fitness room and pool. Completed in 2005, the Comfort Suites features an outdoor pool, whirlpool, hot breakfast, meeting spaces, fitness center, guest laundry and business services. Both five-story hotels received recent renovations and upgrades.
The HFF debt placement team representing the borrower included senior director Pete Fehlman.