Thursday, December 08, 2016

Hotel in Dallas' Galleria area sold to Florida investor

Another Dallas hotel has changed hands — this one on LBJ Freeway.
The 309-room Sheraton Dallas by the Galleria was purchased by a partnership between Florida-based Driftwood Hospitality Management LLC and an institutional real estate investor.
Terms of the sale were not disclosed.
Driftwood Hospitality Management operates about 40 hotels with over 8,000 rooms throughout the U.S. and Costa Rica.
Holliday Fenoglio Fowler L.P. marketed the hotel for sale by previous owner HEI Hotels & Resorts. Since 2012, HEI Hotels had spent over $12 million to upgrade the hotel.
Steve Brown/Dallas Morning News