JLL’s Hotels & Hospitality Group has arranged financing from Western Alliance Bank for the Renaissance Dallas North Hotel, a 337-room full-service property in Dallas' Las Colinas neighborhood.
JLL worked on behalf of the borrower, 3H Group and Dallas Lodging Associates, to secure a floating-rate, five-year loan through Western Alliance Bank.
The Renaissance Dallas North Hotel covers approximately 7.51 acres near seven global headquarters and offices of more than 50 Fortune 500 companies. It is close to nearly $6 billion in new and planned multifamily and retail developments, contributing to approximately 26 percent population growth within a three-mile radius. Located just south of Interstate 635, which handles more than 175,000 vehicles daily, the hotel provides direct access to Dallas' Urban Center, the Galleria Mall and sits centrally between DFW International Airport and Dallas Love Field.
The 12-story property has 337 guestrooms including 25 suites, with 22,670 square feet of meeting and event space anchored by a 5,620-square-foot ballroom. The hotel also has three food and beverage outlets.
3H Group/Dallas Lodging Associates acquired the hotel in July and plans to invest in a renovation program targeting guestrooms, food and beverage outlets and meeting spaces. The project is designed to recapture the property's pre-pandemic performance and rebuild its group travel segment.
The JLL Hotels & Hospitality team representing the borrower was led by Managing Directors Jillian Mariutti and Adrienne Andrews, along with Analyst Pierce Rutledge.
"Las Colinas has established itself as Dallas' premier corporate destination with robust population growth and continued economic development momentum creating exceptional tailwinds for hospitality assets in this corridor," Mariutti said in a statement. "With 3H Group's proven track record across an extensive portfolio of hotels and Sun Companies' distinguished full-service management expertise, this partnership brings the ideal combination of capital and operational excellence to unlock the property's significant value-creation potential."
“This financing reflects our confidence in the Las Colinas market, the long-term fundamentals of the asset and 3H Group’s proven operating approach,” said Barry Lieberman, head of hotel franchise finance, Western Alliance Bank. “We value partnering with experienced owners and advisors like 3H Group and JLL to support high-quality hospitality projects that strengthen dynamic business corridors such as Las Colinas.”