NATIONAL REPORT—The New Year kicks off with news of domestic transaction activity. Here’s several to know.
In Texas, Holliday Fenoglio Fowler LP (HFF) sold the Hilton Dallas/Rockwall Lakefront, a 231-room, full-service hotel in The Harbor mixed-use waterfront destination on Lake Ray Hubbard in the Dallas-area community of Rockwall. The purchase price was not disclosed.
The HFF team marketed the property on behalf of the seller, TRC Capital Partners LLC. Driftwood Acquisitions & Development LP purchased the property unencumbered of the existing management contract.
Hilton Dallas/Rockwall Lakefront features a resort-style outdoor pool; fitness center; lakeside access; 31,532 sq. ft. of flexible meeting space that includes the Pergola, a new 3,479-sq.-ft. outdoor venue with unobstructed lake views; and three food and beverage options.
The five-story hotel was completed in 2008 and renovated in 2017. Hilton Dallas/Rockwall Lakefront is situated on 8.92 acres on the eastern side of Lake Ray Hubbard at 2055 Summer Lee Dr. with an adjacent 1.9 acres for additional development.
The HFF investment advisory team representing the seller included Managing Director John Bourret and Director Austin Brooks.
Acquisition in Colorado
Auberge Resorts Collection, in partnership with Flynn Properties, has acquired and will manage Madeline Hotel and Residences, a ski-in/ski-out resort in Telluride, CO.
The 83-room and 71-residence property is proximate Telluride Ski Resort, offering year-round recreation, shopping, festivals and gondola access to Telluride and the valley below.
Dan Friedkin, owner/chairman of Auberge Resorts Collection, said, “As we continue to grow our portfolio of exceptional properties with the addition of the Madeline, we look forward to bringing our signature, personalized service and style to make the hotel one of the great slope-side resorts in America.”
The property has recently renovated guestrooms and suites and one- to four-bedroom residential condominiums.
Two Hotels Ready to Move
Brown Nester Hospitality Services is offering two East Coast properties for sale. Ready for acquisition is the 60-room EconoLodge in Bradford, PA. It sits on approximately 30 acres and has a three-bedroom manager’s residence as part of the $1.4-million price tag.
In Virginia, a 78-key Days Inn is up for sale (location is confidential at press time) with an asking price of $1.65 million.