Holliday Fenoglio Fowler, L.P. (HFF) announces the sale of and the acquisition financing for Dallas/Plano Marriott at Legacy Town Center, a 404-room, full-service hotel in the heart of Plano’s Legacy Town Center near Dallas, Texas.
The HFF team marketed the property on behalf of the seller, Ashford Hospitality Prime. Roch Capital purchased the property encumbered of the existing management contract. Additionally, working on behalf of the new owner, the HFF team placed the 10-year, fixed-rate loan with Morgan Stanley Bank, N.A.
Completed in 2001, Dallas/Plano Marriott at Legacy Town Center’s 404 rooms include 49 suites. The six-story hotel features 36,223 square feet of function space, an oversized fitness center, outdoor heated pool with whirlpool, concierge lounge, business center and two dining and beverage options. The Marriott is situated on 4.18 acres at 7121 Bishop Road in Plano within the 168-acre Legacy Town Center, which welcomes five million visitors annually and is the urban town center of the 2,800-acre Legacy Business Park. Additionally, the property overlooks Bishop Park and is just off the Dallas North Tollway.
The HFF investment advisory team representing the seller included senior managing director and head of HFF’s hotel group Daniel C. Peek, managing director John Bourret and director Austin Brooks.
The HFF debt placement team representing the borrower consisted of senior managing director Michael Weinberg and senior director Pete Fehlman.
Holliday Fenoglio Fowler, L.P. acting by and through Holliday GP Corp, a Texas licensed real estate broker.
About Ashford Hospitality Prime
Ashford Hospitality Prime is a real estate investment trust (REIT) focused on investing in luxury hotels and resorts. Learn more athttp://www.ahpreit.com.
About Roch Capital Inc.
Roch Capital Inc., through its affiliates, is one of the region’s fastest growing real estate investment companies. Roch will invest nationally in a broad range of real estate assets with a primary focus on urban and resort hotels, urban office and urban multifamily. For more information on Roch Capital, please visit http://www.rochcap.com.
HFF and its affiliates operate out of 24 offices and are a leading provider of commercial real estate and capital markets services to the global commercial real estate industry. HFF, together with its affiliates, offers clients a fully integrated capital markets platform, including debt placement, investment advisory, equity placement, funds marketing, M&A and corporate advisory, loan sales and loan servicing. HFF, HFF Real Estate Limited, HFF Securities L.P. and HFF Securities Limited are owned by HFF, Inc. (NYSE: HF). For more information, please visit hfflp.com or follow HFF on Twitter @HFF.