279 rooms with unique mix of amenities
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Recently renovated Embassy Suites Dallas Park Central in excellent location
Executive Summary
Berkadia is pleased to offer for sale the fee simple interest in the 279-room Embassy Suites Dallas | Park Central Area, located in Northern Dallas along the North Central Expressway. Situated at the interchange between Highway 75 and I-635, the Hotel is easily accessible to the desirable suburbs of Addison and Richardson, and ideally situated proximate to a major corporate presence, including corporations such as Raytheon, Texas Instruments, Ericsson, and the growing Telecom Corridor. This offering presents investors with a rare opportunity to acquire a fee simple institutional quality asset located in a highly desirable market, with an opportunity to take advantage of highly accretive, below-market acquisition offered by the existing lender against purchase price and renovation.
Strong Market Growth
Best-in-Class Brand
Unencumbered by Management
Accretive Seller Financing
Recently Renovated Guestroom Product
INVESTMENT HIGHLIGHTS
The North Dallas lodging market boasts significant corporate and leisure demand generators including headquarters for Texas Instruments, Raytheon, Ericsson, in addition to leisure destinations such as the Galleria Mall and Cotton Bowl Stadium.
The Embassy Suites brand has long been known as a category killer, offering full suites, complimentary breakfast, and a host of amenities designed to enhance the guest experience. Embassy Suites have traditionally run over 115% RevPAR penetration and optimal margins, making them an ideal vehicle for ownership.
The offering is being made available unencumbered by existing management, allowing a new buyer to install the manager of their choice to drive profitability following the implementation of the brand-mandated PIP renovation.
The Existing Lender is prepared to offer highly accretive, below market acquisition financing, allowing for a buyer to enter the wildly profitable Dallas Lodging market with confidence.
Current ownership has completed comprehensive renovations since their acquisition in 2019, totaling $7.4 million or ($27K per key), which addressed all 279 guestrooms and guest bathrooms, guest corridors, and public spaces.
279
Rooms (suites)
1986/2022
year build/renovated
11,249 SF
meeting space
429 spaces
parking garage
Restaurant/lounge, indoor pool, complimentary breakfast
Amenities
PROPERTY Overview
The Embassy Suites by Hilton Dallas Park Central Area is conveniently located at the interchange of I-635 and US-75, providing easy access to key attractions in the city. The hotel is just a short distance of approximately 3 miles from the Texas Instruments Headquarters, a sprawling 110-acre campus with approximately 3,000 employees. Medical City Dallas Hospital, a leading healthcare institution with 367 beds and over 100 physicians, is within an approximately 3-mile drive. The Dallas College Richland Campus, which spans over 155 acres and serves more than 20,000 students, is only about 4 miles away. Additionally, the vibrant NorthPark Center, a popular shopping destination with over 2,400,000 square feet ofretail space, is also just about 6 miles away from the hotel.
The Location
Embassy Suites
Embassy Suites
Canopy
Canopy
property photos
Berkadia®, a joint venture of Berkshire Hathaway and Jefferies Financial Group, is an industry leading commercial real estate company providing comprehensive capital solutions and investment sales advisory and research services for multifamily and commercial properties. Berkadia® is amongst the largest, highest rated and most respected primary, master and special servicers in the industry. This advertisement is not intended to solicit commercial mortgage company business in Nevada.
© 2024 Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Berkadia® and Berkadia Commercial Mortgage® are trademarks of Berkadia Commercial Mortgage LLC. Investment sales and real estate brokerage businesses are conducted exclusively by Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Commercial mortgage loan origination and servicing businesses are conducted exclusively by Berkadia Commercial Mortgage LLC and Berkadia Commercial Mortgage Inc. Tax credit syndication business is conducted exclusively by Berkadia Affordable Tax Credit Solutions. For state licensing details for the above entities, visit www.berkadia.com/licensing.
MICHAEL FOReSTER
Senior Analyst
Hotels & Hospitality
646.432.7455
EMAIL ME
STEVEN VAZQUEZ
Senior Director
Hotels & Hospitality
646.432.7494 EMAIL ME
STEVE MICHELS
Senior Managing Director
Hotels & Hospitality
646.432.7475
EMAIL ME
JARED KELSO
Senior Managing Director
Hotels & Hospitality
646.432.7480 EMAIL ME
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EMBASSY SUITES DALLAS PARK CENTRAL AREA
EMBASSY SUITES DALLAS PARK CENTRAL AREA
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Proven Historical Upside
The Hotel historically generated RevPAR penetration of over 125%, well above the 2023 index of 80%, which highlights the upside potential with new ownership.
Proven Historical Upside
The Hotel historically generated RevPAR penetration of over 125%, well above the 2023 index of 80%, which highlights the upside potential with new ownership.
Proven Historical Upside