June 9, 2017
PCCP provided a $63.5-million construction loan to Dunhill Partners for the development of the Virgin Hotel Dallas, a 16-story, 268-room upper-tier hotel located in the Design District of Dallas. The fully-entitled project commenced construction, with completion anticipated in late 2019. The financing was arranged by Dallas-based Hamilton Realty Finance.
“Dunhill Partners is an experienced developer and manager of assets throughout Texas, and we have full confidence that PCCP’s loan will enable them to execute another success story by adding an exciting new hospitality concept to the Design District,” said PCCP’s Ron Bonneau.
Situated on a 1.05-acre site at 1909 Hi Line Drive, the project will feature a full-service lobby restaurant, poolside bar on the amenity deck, and additional upscale amenities including the Commons Club. The property is anticipated to be the third Virgin flagged hotel in the United States, including one operating in Chicago, and another scheduled to open in San Francisco later this year.
For comments, questions or concerns, please contact Dennis Kaiser