Dunhill Partners Acquires Hotel From Estein USA In Dallas Transaction
2440 Victory Park Ln, Dallas, TX, 75219
Building Size
—
Asset Type
Hotel
Closing
Nov 7, 2019
AI
The 252-key W Dallas Victory Hotel, located at 2440 Victory Park Lane in Dallas, TX, 75219, has been sold by Estein USA to a joint venture between HN Capital Partners and Dunhill Partners. The luxury hotel is situated on 1.7 acres in the vibrant Victory Park neighborhood, adjacent to the American Airlines Center.
Summary of transaction details:
- Property Type: Hotel
- Transaction Amount: $80.3 million
- Address: 2440 Victory Park Ln, Dallas, TX, 75219
- Market: Dallas
- Seller's Rep: Michael Kavanau (JLL), Parker Sherrill (Newmark)
- Buyer: Dunhill Partners
JLL Capital Markets' Michael Kavanau and Parker Sherrill represented Estein USA in the transaction, securing $80.3 million in acquisition financing from Starwood Property Trust for the buyer. De'On Collins from JLL's debt placement team collaborated with Randy Fleisher from Hamilton Realty Finance to finalize the three-year floating-rate loan with three extension options. Additionally, Vipin Nambiar of HN Capital Partners aims to rejuvenate the hotel with a complete renovation and new dining options to enhance the visitor experience in Victory Park.
Players
Dallas Hotel Market Snapshot
Boundary boundary · Hotel · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93