Atlantic Hotels Picks Up 2 DFW-Area Assets
An HFF team led by Pete Fehlman secured more than $20 million in acquisition financing for the 190-key hospitality portfolio.
By Jeff Hamann
The Hampton Inn & Suites and the Comfort Suites DFW Airport North Grapevine
Atlantic Hotels Group has purchased two five-story hotels in the Dallas-Fort Worth area, totaling 190 guestrooms, from NewcrestImage. Resource Capital Corp. provided $23.4 million in acquisition financing, secured by HFF. The loan matures in April 2021 with an option to extend an additional two years, according to Tarrant County records.
The 94-key Hampton Inn & Suites by Hilton and the 96-key Comfort Suites DFW Airport North Grapevine are located next to each other at 1750 Texas Route 121 and 1805 Enchanted Way in the city of Grapevine. Located at the northeast corner of Interstate 635 and Bethel Road, the properties are two and a half miles from DFW International Airport’s northern entrance. Grapevine Mills, a 1.6 million-square-foot shopping mall, is a short distance from the property.
The Hampton Inn & Suites, opened in 2000, offers guests a range of amenities, including a business center, gym and indoor pool. The Comfort Suites, constructed in 2005, features meeting areas, an outdoor swimming pool and a fitness center. Both assets also provide complimentary Wi-Fi, parking and transportation to the airport. NewcrestImage recently completed capital improvements at both properties.
Image via Google Street View
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