Texas-Based Napali Capital Acquires 152-Room Tru by Hilton Dallas
Main Photo: The Tru by Hilton Dallas
Date: August 2021
Name: Tru by Hilton Dallas Market Center
Location: Dallas, Texas, USA
Number of Keys: 152
Seller: The hotel, which was initially constructed as a bank in 1965 and operated as an office building before the renovation, opened as a Hilton hotel in January 2021
Buyer: Napali Capital, a Texas-based real estate investment company, has acquired the 152-room Tru by Hilton Dallas Market Center in Dallas, Texas. as Tru by Hilton.
Napali Capital specialises in creating sustainable passive income for physician investors.
Today the hotel represents the newest upper-midscale lodging asset in the Dallas Central Business District/Market Center STR tract. Featuring a contemporary design across an open floor plan, the hotel offers a young-at-heart experience synonymous with the Tru brand. Brand-new amenities include two F&B venues (including a 24/7 market stocked with drinks and gourmet snacks), a highly activated lobby featuring football, billiards, other games, and a fitness center.
Napali Hospitality intends to infuse over $400,000 in capital to upgrade the stunning rooftop deck into SkyBlue at the Tru, the newest rooftop experience in Dallas, providing unmatched views of the Dallas skyline. Additionally, the company has engaged Aimbridge Hospitality to manage the operations of the property.
“We couldn’t be more excited to expand the Napali footprint in the Dallas market and with an asset that is irreplaceable and has simply the best views of the city,” said Napali Capital co-founder and Managing Partner, Tim Black, former COO of Great Wolf Resorts. “We are looking forward to delivering the best guest service and an incredible upside to our investors― and that is our ultimate goal.”
Tru by Hilton Dallas Market Center is Napali’s second acquisition after Home2 Suites by Hilton, in Charlotte University Park, North Carolina, in 2019.
THPT Comment: Congratulations to this new entrant into the US hotel space…Aimbridge continue to grow with this hotel, with some 1,330 hotels under their belt already. Interesting that Napali manages investments specifically for “physician investors”
First Seen: Rebusiness.com
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