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Case Study

Adolphus Hotel Dallas Sold

Jones Lang LaSalle's Hotels & Hospitality Group represented Winthrop Realty Partners, L.P., in the sale of the historic, 422-room Adolphus Hotel in Dallas, Texas. The property was sold to Rockbridge Capital for $33.5 million, who has retained the incumbent manager, Crescent Hotels & Resorts to continue operating the hotel.

The transaction proved to be very challenging given both market and asset conditions, in addition to three short- and mid-term ground leases encumbering the meeting space and parking garage of the hotel. The property is also in need of a major renovation, particularly as it relates to MEP and life safety.

The team received strong interest for the asset when first launched at the beginning of 2012, predominantly from private equity groups, owner/ operators and brands looking to reposition the hotel as a luxury product.

The Property features 422 well-appointed guestrooms and suites, a comprehensive food and beverage program, ample meeting and event space, a fully-equipped fitness center and an executive business center.

In December 2012 the hotel was sold for $33,500,000.

For more information please contact Gilda Perez-Alvarado 001 212 812 5897.

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