RobertDouglas Advises on the Sale of the Sheraton Dallas-Fort Worth Airport Hotel
New York, NY – RobertDouglas announced today that it advised a private owner in the sale of the Sheraton Dallas-Fort Worth Airport Hotel to the Buccini/Pollin Group.
The Sheraton is a recently-renovated, full-service property with 302 spacious rooms, 30,000 square feet of meetings and event space, and a thoughtful mix of premium guest amenities. The property is located in the heart of the multi-faceted Dallas-Fort Worth International Airport submarket and benefits from a robust corporate, event and travel infrastructure, including over 30 million square feet of office space, the nation's third-busiest airport, and the 275,000 square foot Irving Convention Center.
"Dallas-Fort Worth is one of the most dynamic submarkets in the Dallas Metroplex and one of the most heavily trafficked business-travel corridors in the entire country," commented David Smith, a Director with RobertDouglas. "The region's business-friendly environment and excellent infrastructure has compelled a number of companies to relocate to Dallas from other parts of the country, fueling substantial demand growth."
Evan Hurd, a Managing Director with RobertDouglas noted, "The Sheraton features many of the characteristics investors are seeking – a strong in-place yield, a location in a market with multiple demand generators, and relatively little capital required post acquisition. As a result, this was a highly-competitive process that generated multiple offers from investors including private equity funds, 1031 investors, owner-operators, and high-net-worth investors."
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RobertDouglas is a real estate investment banking firm with offices in New York, Los Angeles and San Francisco that specializes in the sale, financing and equity capitalization of hotel, resort and gaming properties throughout North America. Founded by two of the hotel industry's pre‐eminent finance professionals, Rob Stiles and Doug Hercher, RobertDouglas offers exceptional domestic and international institutional investor and lender relationships. RobertDouglas combines the capital markets sophistication of top-tier investment banks with detailed hotel underwriting and asset management experience, providing the firm with unique capabilities in an underserved market. For more information, contact info@robert‐douglas.com or go to www.robert-douglas.com.
Douglas Hercher
Managing Director & Principal
+1 (212) 993-7424
