Connect Media > Texas News > Dallas-Fort Worth > Hilton Southlake Trades to Driftwood Capital

December 22, 2020 Comments Off on Hilton Southlake Trades to Driftwood Capital Views: 488 Dallas-Fort Worth, Texas News

Hilton Southlake Trades to Driftwood Capital

Order Reprints...

Miami-based Driftwood Capital acquired the Hilton Dallas Southlake Town Square, a 248-key, five-story hotel in the Dallas suburb of Southlake, approximately 10 minutes from Dallas-Fort Worth International Airport. Driftwood Capital acquired the asset from Hobbs & Curry family limited partnership for an undisclosed price, and plans to invest $5 million in property renovations over the next 12 months.

Earlier this year, Driftwood raised $250 million to launch three new development, acquisitions and mezzanine lending GP funds. The Southlake property was acquired through the acquisition fund, which targets hotel opportunities in the $30-million to $150-million range.

Driftwood will open the new acquisition to investors for syndication in early February, with a minimum investment of $50,000.  The firm retains a 10% stake in all its hotel investments.

“The Hilton Southlake offered a high-quality asset in a premier location with ample upside opportunity,” said Carlos Rodriguez Sr., CEO of Driftwood Capital.

Connect With Driftwood


Get CRE News in 150 words

For comments, questions or concerns, please contact Paul Bubny

Tags: ,

Comments are closed.