|The 130-room Homewood
Suites on Elm Street|
opened last fall. (Steve Brown)
Apple Ten Hospitality Management of Richmond purchased the 130-suite hotel.
Rick Besse, Bhavesh “B.J.” Patel and Sam Winterbottom of Newmark Grubb Knight Frank brokered the sale.
“Even before this new Homewood Suites opened its doors, the buyer recognized it as a magnificent property, with unique guest amenities that would set it apart from the competition and help to drive room rentals,” Besse said. “This is the only Hilton-branded product, and in fact the only premium-branded extended-stay hotel, in all of downtown Dallas.”
Seller Lowen Hospitality redeveloped the former United
Fidelity Life Insurance Building – which had been vacant for more than a decade – into the hotel.
In 2012 the new owner of the downtown Homewood Suites purchased the HIlton Park Cities Hotel in North Dallas.