DALLAS—HREC Investment Advisors arranged the sale of the 227-room DoubleTree Market Center located in Dallas, Texas.
California-based Axle Capital Group and an undisclosed partner purchased the property. The seller, Alliance Hospitality Management in Raleigh, North Carolina, will continue to manage the property.
The hotel is located along I-35E just 5 minutes from downtown Dallas, 5 minutes from Dallas Love Field Airport, and 20 minutes from DFW International Airport. The DoubleTree Market Center is situated in the Dallas Market Center (DMC) area. The DMC is comprised of 5 million square feet of event space and host 50 events a year that not only stabilize occupancy for the hotel but impact local economy as well, noted HREC in a statement.
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