TriGate Capital Sells Magnolia Hotel Park Cities To Chicago-Based Investor
HFF sold Magnolia Dallas Park Cities on Central Expressway. The 292-room hotel was bought by 6070 NCX from TriGate Capital. 6070 NCX is a subsidiary of DRW Real Estate Investments, a value-add investor out of Chicago.
Magnolia Hotel Dallas Park Cities was built in 1972 and has undergone more than $10M total in renovations in 2012, 2013 and 2015. The hotel features 12k SF of function space, a fitness center, an indoor pool, and restaurant and lounge.
Stout Street Hospitality will continue to manage the hotel.
HFF managing director John Bourret and associate director Austin Brooks repped the seller.