Capitalizing on the region’s tremendous population and economic growth, Dallas hotel assets are in high demand among both travelers and investors.
JLL’s Hotels & Hospitality group announced the sale of the 811-room Hyatt Regency DFW International Airport Hotel on behalf of Hunt Realty Investments and Hyatt Corporation to a private equity fund managed by AllianceBernstein’s U.S. Real Estate Equity Team and Fulcrum Hospitality. JLL also secured acquisition financing, provided by JP Morgan.
Managing Director Robert Webster and Executive Vice President Tim Southard led the JLL team on the transaction while Executive Vice President Bill Grice led the financing efforts.
“The Hyatt Regency DFW International Airport Hotel is an institutional quality asset that benefits from its location on the grounds of one of the busiest airports in the world,” said Webster. “We anticipate the asset to achieve strong returns due to its affiliation with the Hyatt brand and the dynamic Dallas lodging market, which has experienced double digit RevPAR growth both in 2013 and year-to-date through July of 2014.”
“Lenders are actively competing for the opportunity to finance great assets with excellent sponsorship, and investors are taking advantage of this dynamic by achieving highly favorable loan structures combined with historically low interest rates,” added Grice.
The hotel is located adjacent to Terminal C within DFW International Airport and features 92,000 square feet of meeting space, four food and beverage outlets, a 24-hour fitness center and an infinity pool.