Acquire Real Estate closed its investing fund for the DoubleTree by Hilton DFW Airport North, a 282-room, eight-story hotel adjacent to DFW Airport. The company provided $262k in funding and investors contributed $5k to $75k. Acquire predicts average annual returns of 20% in the booming Dallas market to be paid out quarterly over a seven to 10-year term.
The property includes 17k SF of function space, a fitness center, an outdoor pool and a full-service business center. The hotel also enjoys some big-name neighbors, including Allstate, Siemens, Verizon, AT&T, IMB and Microsoft.
According to PKF Hospitality Research, today’s hotel room rates have surpassed pre-recession levels, and the firm predicts US hotels will continue to enjoy above average RevPAR growth through 2018. Acquire Real Estate CEO Steven Bettinger tells us he’s seeing growing demand from investors for high-quality hotel opportunities.
