Tampa, Fla. (December 18, 2020) – The Plasencia Group is pleased to announce that it represented Hobbs & Curry Family Limited Partnership in the sale of the Hilton Dallas Southlake Town Square located in the upscale Dallas suburb of Southlake. The 248-room, five-story hotel is located in the heart of Southlake Town Square, a substantial demand generator touting over 200 stores, restaurants and entertainment outlets. The property is also proximate to several expansive corporate campuses, including major office complexes for Fidelity, Deloitte, TD Ameritrade, Charles Schwab and Sabre.
Affiliates of Driftwood Capital, a national lodging development and investment firm, acquired the asset. The transaction was led by The Plasencia Group’s Senior Managing Director, Robert Wiemer, alongside Managing Director Chris Plasencia and Vice President John Plasencia.
“Completing a transaction of a full-service asset, even in a superb location like Southlake Town Square, is an extraordinary challenge in the current lodging investment market,” said Robert Wiemer. “The seller’s ability to provide financing and the buyer’s steadfast commitment to consummating this transaction allowed for a seamless and mutually-beneficial exchange.”
“Our client has been able to fully achieve a strategic objective set well before the onset of the COVID-19 pandemic,” said Chris Plasencia. “At the same time, Driftwood has added a stellar asset to its growing portfolio. The Hilton is the crown jewel of the Southlake hospitality submarket, and it should continue to outperform as traditional demand patterns reemerge.”
Dallas-based John Plasencia added, “The purchaser will continue to benefit from the region’s growth over the coming years. The DFW area ranks among the most dynamic lodging markets in the world, benefitting from its booming population, corporate expansion and unique attractions. These factors culminate to create an appealing destination for visitors, businesses, and hospitality investors alike.”
The Plasencia Group has been increasingly active in the Southwestern U.S. market over the last several years, building on its successful track record of over one hundred hotel and resort transactions in Texas alone. Additionally, the firm has successfully marketed more than one hundred Hilton-branded assets nationwide.