GRAPEVINE, Texas—Highline Hospitality Partners introduced the acquisition of the Hilton DFW Lakes Govt Convention Heart. The transaction marks Highline’s 18th resort acquisition and its second acquisition within the final month, after having acquired the Pittsburgh Marriott North in February.
Set on roughly 29 lakeside acres in Grapevine, Texas, simply north of the DFW Worldwide Airport, the 397-room resort contains roughly 72,000 sq. ft of indoor assembly area, a set of facilities together with three full-service eating places (plus a espresso bar/snack store), indoor and out of doors swimming pools, scorching tubs, 12 pickleball courts, 3 tennis courts, basketball courtroom, sand volleyball courtroom, jogging and strolling trails, and entry to a five-acre personal lake. Highline has engaged Avion Hospitality to handle the resort.
With this acquisition, Highline Hospitality now oversees a portfolio of 18 motels comprising over 5,000 guestrooms and near $1.5 billion in hospitality property beneath administration. As well as, the agency offers third-party asset administration oversight for 4 further motels on behalf of an institutional possession group, bringing the entire variety of properties overseen by Highline to 22.
“We’re excited so as to add the Hilton DFW Lakes to our portfolio and to broaden our relationship with Avion,” stated Chuck Pomerantz, managing associate of Highline Hospitality Companions. “This institutionally owned, high-quality asset is a beautiful addition given its strategic location within the DFW submarket, the varied and steady demand mills upon which it attracts, and its product that includes a market-leading assembly area providing, which differentiates the resort relative to its aggressive set. We consider the property is well-positioned to ship sturdy money movement and long-term worth as we proceed to develop and diversify our resort portfolio throughout the nation.”
Highline plans to pursue focused renovations, primarily targeted on assembly area, within the coming years to additional improve the resort’s aggressive positioning.
