This Week's Dallas-Fort Worth Deal Sheet
The NYLO Irving/Las Colinas and NYLO Plano hotels have been converted into Tapestry Collection by Hilton hotels.
The brand is 19 independent-style hotels under the Hilton umbrella (including the two new ones), featuring such properties as the Distrikt Hotel New York City, the Graham Hotel Washington DC and the Troubadour Hotel New Orleans.
The NYLO Irving/Las Colinas includes 200 guest rooms, two outdoor pools and large meeting rooms. The hotel also features the only ballroom in Las Colinas with natural light, according to Dallas-based Prism Hotels and Resorts, which assumed management of the properties last summer.
The 176-room NYLO Dallas Plano marries industrial design with a hotel aesthetic, featuring a sauna, an outdoor heated pool, and LOCL, a first-floor restaurant and bar. Before taking a Hilton flag, the hotel was renovated, a process that involved light exterior upgrades with more extensive alterations to the interior public spaces, guest rooms and guest baths.
Prism worked with JF Capital Advisors, which serves as strategic adviser to the owner, to lead the hotel through the conversion.
“Tapestry Collection is a brand that is special, like an original work of art,” Prism Hotels and Resorts President and CEO Steve Van said. “Each hotel allows guests to have a unique hotel experience with the reliability of Hilton."
EXECS
Colliers International has formed a Dallas-Fort Worth multifamily investment sales team. The three-person team will be led by newly hired Senior Vice President Mark Allen, a veteran of the multifamily real estate business. The other members of the team are Amar Hayer, formerly a real estate asset manager with Friends Investment Group, and Courtland Charles, formerly an investment associate at Marcus & Millichap.
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Tami Cumings has joined Caddis as vice president of senior living to oversee the operations and growth of the firm’s nationwide Heartis senior living brand. Cumings has more than 25 years of experience in the independent living, assisted living and memory care industry.
SALES
Greysteel has facilitated the sale and acquisition financing of Majors Place, a 176-unit multifamily property at 2410 Jack Finney Blvd. in Greenville that finished construction in early 2018. Greysteel's Doug Banerjee, Boyan Radic, Andrew Hanson, Jack Stone and Mitt Patel represented the seller and developers, TX Majors Place Apartments, Odyssey Residential Holdings and Rise Residential Construction. They also procured the private buyer and arranged the financing.
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Wedge Supply has acquired the 24K SF 3309 West Kingsley Road in Garland for an unspecified price. The Mercer Co.'s Jeremy Mercer and Tucker Cason represented the buyer, while ESRP's Barrett Bufkin and Jeff Pappas repped the seller, Hollandia G Partners.
DEVELOPMENT
KRS Realty Advisors has acquired and is renovating two buildings in the Fort Worth Stockyards. Once complete, the properties will include about 12K SF of office and retail space. One property is at 2341 North Main St. and features 7K SF for a restaurant, café, bar or office, and has design flexibility for a drive-thru or outdoor seating area. The second building is at 111 Northwest 24th St. and is a historic renovation that will offer 4,970 SF in an open plan concept.
LEASES
Law firm Caldwell Cassady & Curry has signed a lease for more than 14K SF at PwC Tower at Park District. The 500K SF property is in the Uptown submarket near Klyde Warren Park. When the firm moves in next year, Caldwell Cassady & Curry will be the largest tenant on the 12th floor. The landlords are Trammell Crow and MetLife Investment Management.
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WeWork has inked a deal to occupy 77K SF on three floors of the 26-story central tower in The Towers at William Square in Irving. The coworking company plans to open its space in the third quarter.
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Brunton International has renewed its 60K SF lease at Dallas Commerce Center. Canon Shoults of Holt Lunsford Commercial represented the landlord, TA Realty. Lee & Associates' Ken Wesson represented the tenant.
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TRC Environmental renewed its lease for 12K SF at 700 Highlander in Arlington. Holt Lunsford Commercial's Geoff Shelton and Marshall Mays represented the landlord, 700 Highlander Partners. CBRE's David Walters represented the tenant.
