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Courtyard By Marriott – Image Credit CBRE
CBRE Hotels offers, on an exclusive basis, the opportunity to acquire the fee simple interest in the 128-key Courtyard, the 102-key Residence Inn, and the 104-key Fairfield Inn & Suites Dallas Plano / The Colony. The hotels can be acquired as a portfolio or individually. Given the close proximity of the assets situated around the Fairfield Inn and Suites and the attached Cascades Conference Center, a portfolio investor will have full control of 334 select-service rooms centered around nearly 7,000 square feet of meeting and event space.
Positioned at the intersection of two prominent thoroughfares in the northern Dallas MSA, the Dallas North Tollway and Sam Rayburn Tollway (SH-121), the Hotels enjoy proximity to Toyota’s North American headquarters and PepsiCo-Frito Lay’s global headquarters. The Properties are also conveniently located near a rich array of corporate campuses for JP Morgan, Liberty Mutual, Ryan, The Dallas Cowboys World Headquarters at The Star, Keurig Dr Pepper, NTT Data, and FedEx, among others. Additionally, the Portfolio is adjacent to the sprawling, 400-acre Grandscape mixed-use development, which, in addition to being anchored by Texas’ only Nebraska Furniture Mart and Scheels, features a range of state-of-the-art entertainment venues and premium dining options.
This offering represents an exceptional opportunity to acquire a strategically located, premium-branded select- service hotel complex in a well-established, premier Dallas submarket, available unencumbered of debt and management.
Investment Highlights
Solid Corporate Demand
The intersection of SH-121 and the Dallas North Tollway is the epicenter of suburban corporate growth and features a diverse range of major headquarter operations, including Toyota, Comstock Resources, PepsiCo – Frito Lay, Keurig Dr Pepper, The Dallas Cowboys, Ryan, FedEx, and Liberty Mutual, to name a few.
Premium Branded Select-Service And Extended Stay Hotels
Available fee-simple, with non-union labor, the Properties offer the ability to acquire industry-leading brands. The addition of the large conference space attached to the Fairfield Inn & Suites enables the complex to deliver full-service experience with select-service operating margins.
Prime Location Among Growing Dallas Suburb
The SH-121 corridor is undergoing a period of expansion as major retailers have flocked to the 400-acre Grandscape mixed-use development anchored by Nebraska Furniture Mart. The area is replete with local and national retailers, upscale restaurants, and entertainment venues, with the latest addition being Cosm, a shared-experience, immersive art and experiential entertainment venue featuring an 87-foot diameter 12K+ LED dome that opened in August 2024.
Strong Competitive Performance
The Hotels are some of the top performers in the competitive market; however, while all three typically achieve above market RevPAR, they trail the market leaders in their competitive set, indicating opportunities for improvement following expected renovations associated with a change-of-ownership property improvement plan.
Opportunistic Investment Offered Below Replacement Cost
The Properties are high-quality, having been built in the last fifteen years. Replacement costs for hotels of this scale would be significantly higher than the assumed sale price.
For inquiries visit CBRE.
