October 2017 -
RealtyShares recently deployed more than $10.1 million for a pair of commercial real estate transactions in Texas, collaborating with two different sponsors to provide fast and flexible financing for an airport hotel near Dallas and a portfolio of multifamily properties in and around Texarkana.
In Irving, Texas, just five miles from Dallas/Fort Worth International Airport, RealtyShares secured a $2.4 million equity investment for the Sheraton Dallas-Fort Worth (DFW) Airport Hotel, a 302-room, full-service hotel that supports one of the busiest airports in the world.
The 12-story Sheraton is located just 15 miles from downtown Dallas and includes three restaurants, 23 banquet and meeting rooms, and one of the largest event spaces in the region. (article continues below)
The Sheraton DFW Airport Hotel project was sponsored by The Buccini/Pollin Group, a real estate acquisition, development and management company that reports more than $1 billion under management.
Along with its hotel management affiliate, PM Hotel Group, Buccini/Pollin reported that it has acquired and developed approximately 40 hotel properties and has managed all aspects of project acquisition, finance, development, construction, leasing, operations and dispositions.
Buccini/Pollin also serves as the owner/operator of a nearby Doubletree by Hilton in the same submarket as the Sheraton hotel and intends to use its market insight and ability to help leverage current operations for the Sheraton DFW Airport Hotel project.
”RealtyShares’ knowledge of and track record within the Dallas market provided an efficient and seamless capital raising execution for us,” said Brandon Flury, vice president at Buccini/Pollin.
“RealtyShares has been active in hospitality financing and continues to seek out quality real estate companies in the hotel sector that operate in interesting markets like Dallas.” Notes Akshay Verma, Associate Director at RealtyShares, “Buccini/Pollin has a strong reputation in the hotel industry and we're excited to have developed a long-term relationship with such an experienced and trusted hospitality sponsor.” (article continues below)
East of Dallas, on the Texas-Arkansas border, RealtyShares closed an additional $7.7 million debt transaction on a portfolio of seven multifamily properties, many of which are located in or around Texarkana.
The debt capital, structured as individual bridge loans, was raised from institutional partners and from individual investors on the RealtyShares platform.
“This collection of properties is a testament to our capacity to fund projects in markets both large and small,” said Ashby McElveen, Senior Director at RealtyShares.
Last year RealtyShares released data showing its growing footprint in the Lone Star State. With major real estate markets like Dallas, Austin and Houston, along with a wealth of smaller market opportunities, Texas remains an intriguing region for both RealtyShares investors and sponsors.
Interested in raising capital with RealtyShares? Get in touch at email@example.com
You should not rely on any forward-looking statements made regarding this opportunity, because such statements are inherently uncertain and involve risks. The property's economic performance and value, and thus the value of investors’ investment, is subject to other risks as well; these risks could result in the loss of your investment (including invested principal). Such risks can include, among other things, the illiquid nature of the investment, risks relating to the sponsor's management of the project, risks relating to any renovation or construction work to be performed at the property, and real estate market risks generally. See the offering materials for a more detailed discussion. Securities offered through North Capital Private Securities, member FINRA/SIPC.