Carey Watermark Investors Buys Stoneleigh Hotel

DALLAS–Carey Watermark Investors Inc. has acquired Le Meridien Dallas, The Stoneleigh, the historic 176-room hotel located in Uptown Dallas. The seller is Norwalk-CT-based HEI Hotels & Resorts.

“Not only were we able to add market diversity and a solid long-term cash flow generating asset to our portfolio, the acquisition allowed us to invest in one of the most attractive locations in one of the fastest-growing markets in the country,” Michael Medzigian, Carey Watermark Investors CEO, told GlobeSt.com. ”As such, the opportunity married our overall portfolio objectives with our desire to position ourselves in the Dallas market with the acquisition of a high-quality well-positioned property.”