W Dallas Victory Hotel in Uptown Dallas Sells

November 5, 2019 – JLL announced today that it has closed the sale of and arranged acquisition financing for the W Dallas Victory Hotel, a 252-room lifestyle hotel positioned...
W Dallas Victory Hotel

November 5, 2019 – JLL announced today that it has closed the sale of and arranged acquisition financing for the W Dallas Victory Hotel, a 252-room lifestyle hotel positioned in Uptown Dallas’ live-work-play environment of Victory Park.

JLL marketed the property on behalf of the seller, Estein USA. A partnership between HN Capital Partners and Dunhill Partners, Inc. purchased the asset. Additionally, JLL placed the 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 in addition to countless 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.

The JLL Capital Markets team included Senior Managing Director Michael Kavanau and Senior Associate Parker Sherrill.

The JLL Capital Markets debt placement team was led by Senior Director De’On Collins, who worked in conjunction with Randy Fleisher, principal of Hamilton Realty Finance, to source financing for the new owner.

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm’s in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment advisory, debt placement, equity placement or a recapitalization. The firm has more than 3,700 Capital Markets specialists worldwide with offices in nearly 50 countries.

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 U.S., the outlook for hotel investments is relatively positive, with the market upholding 2018’s level of transactions.

 

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CommercialDallasDealsHospitalityNationalSalesSouth

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