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Transactions - NOVEMBER 5, 2019

HN Capital Partners and Dunhill Partners JV acquires lifestyle hotel in Uptown Dallas

by Released

Estein USA has sold the W Dallas Victory Hotel, a 252-room lifestyle hotel positioned in Uptown Dallas’ live-work-play environment of Victory Park. A partnership between HN Capital Partners and Dunhill Partners purchased the asset.

JLL, which represented the seller, placed a three-year, floating-rate financing with three one-year extension options with Starwood Property Trust.

W Dallas Victory is situated on 1.65 acres at 2440 Victory Park Lane adjacent to the 21,000-seat American Airlines Center, home to the Dallas Mavericks, the Dallas Stars and more than 260 annual events. Victory Park is Uptown’s fastest-growing entertainment district. It contains 5,700 residents and 2.6 million square feet of class A office space, in addition to gourmet eateries and walkability to other area attractions, including the Perot Museum of Nature and Science, House of Blues, Cinepolis Luxury Cinema and Katy Trail. The 33-story W Dallas Victory Hotel is a contemporary lifestyle hotel with a variety of amenity offerings, including a top-tier restaurant, lobby bar, terrace bar, resort-style infinity pool and pool deck on the 16th floor, and 10,800 square feet of meeting and event space. The building also contains non-owned ground-floor retail and residential condominiums on floors 18 to 32.

According to a 2019 JLL Hotel Investment Outlook Report, global hotel transaction volumes are predicted to reach $67 billion by the end of the year. In the United States, the outlook for hotel investments is relatively positive, with the market upholding 2018’s level of transactions.

 

 

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