DALLAS--HFF has secured a $10.35-million refinancing for the Holiday Inn Dallas Market Center, a 200-room, full-service hotel.
HFF worked on behalf of the borrower, a partnership between Tom Corcoran and Prism Hotels & Resorts, to place the three-year, floating-rate loan with two one-year extensions with Realty Finance Trust through its regional office in Dallas. According to the company, loan proceeds will be used to retire existing financing and free up capital for upgrades to the property.
Reps for HFF were unable to offer more details about the transaction as of press time.
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