Holliday Fenoglio Fowler has arranged $43 million in financing for Hilton DFW Lakes in Grapevine. The firm secured the adjustable-rate loan through Cornerstone Real Estate Advisers, exclusively representing the borrower, a joint venture led by Somera Capital Management LLC and affiliates of Zelman Development Co. and Quorum Hotels & Resorts.
John Bourret, Dan Peek, and Paul Brindley with HFF negotiated the deal with Tom Cross of Cornerstone.
Hilton DFW Lakes is a 395-room, full-service hotel located at 1800 Highway 26, near Dallas/Fort Worth International Airport. Along with two nine-story guest room towers, the hotel offers a 14,400-square-foot exhibit hall and 50,000 square feet of meeting space.
Here’s more information on the hotel partners, from a press release announcing the transaction:
• Somera Capital Management LLC is a boutique real estate investment firm that was founded in 1994 to acquire and manage value-added real estate investments on behalf of its principals and third party investors. www.someracapital.com
• Zelman Development Co. is a privately-owned commercial real estate development company headquartered in Los Angeles, Calif.
• Quorum Hotels & Resorts is an independent, Dallas-based hotel operator that has provided management and advisory services to more than 163 full service hotels (51,000 rooms) since 1987, and is an approved operator of all major franchises including Hilton, Intercontinental, Marriott, and Starwood products.