HREC Investment Advisors arranged the sale of the 160-room DoubleTree Dallas Farmers Branch located in Farmers Branch, a suburb of Dallas.
Mike Armstrong, principal with HREC Investment Advisors, exclusively represented the seller, Presidian Hotels, a hospitality management and ownership company. Presidian developed the hotel in 1999.
The buyer is Glacier House Hotels, an owner, operator and developer of Hilton, Marriott, Starwood and IHG-branded hotels primarily in the western United States. Glacier recently closed on another three hotels and is actively pursuing additional acquisitions and new development opportunities.
“The Doubletree Hotel received significant investor interest due to the premium brand, the high quality of the physical facility and the strong Dallas/Fort Worth market. After Glacier House Hotels completes a property improvement plan, the hotel will be well-positioned to increase its market penetration and cash flow,” Armstrong said.
The hotel is located roughly 14 miles northwest of the center of Dallas. Dallas Fort Worth International Airport is located under ten miles from the Property. In addition, the Dallas Love Field Airport is only 10 miles away. The location in between the two airports and the ease of access to Las Colinas, North Dallas and Downtown Dallas positions the hotel to both business and leisure travelers in the Dallas/Fort Worth area.