Rob Rain Of OTO Development Acquires Hyatt House Dallas/Uptown Hotel With 141 Keys
2914 Harry Hines Boulevard
Building Size
—
Asset Type
Hotel
Closing
Sep 8, 2025
AI
The asset involved in the transaction is a 141-key hotel located at 2914 Harry Hines Boulevard, situated in the Dallas market. This location is known for its extended-stay accommodation options and is part of the Harwood District.
Summary of transaction details:
- Property Type: Hotel
- Transaction Amount: Not specified
- Address: 2914 Harry Hines Boulevard
- Market: Dallas
- Asset Keys: 141
- Buyer: Rob Rain - OTO Development
Rob Rain represented OTO Development in the acquisition of the Hyatt House Dallas/Uptown, which marks the company's first venture into the Texas property market. The company has plans to undertake renovations in various areas including guestrooms and outdoor spaces.
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