A joint venture between Ad Astra Capital and TMGOC Ventures acquired the Home2 Suites Fort Worth Cultural District, a 162-key extended-stay hotel positioned in one of Fort Worth's entertainment and cultural hubs. JLL Capital Markets secured the acquisition financing through Inwood National Bank. Other terms and conditions were not disclosed.
The Home2 Suites benefits from its prime location in Fort Worth's Cultural District, home to museums, dining options and the Dickies Arena, a premier entertainment venue that attracts more than one million visitors annually. Major area amenities within three miles include West 7th Street's entertainment corridor, downtown Fort Worth, the Fort Worth Botanic Garden, Fort Worth Zoo, Texas Christian University, Colonial Country Club, Fort Worth's Medical District and the historic Fort Worth Stockyards.
The four-story, wood-framed property spans 108,230 square feet and was constructed in 2020. The hotel has modern amenities including a complimentary daily breakfast, a 630-square-foot meeting space, an outdoor pool with lounging area, a 24-hour fitness center and computer access. A structured parking garage provides 162 spaces for hotel guests, while an additional 20 dedicated covered spaces serve the property's ground-floor retail space, which is being marketed by the owner for lease.
Lexima Lodging, a Wichita, Kan.-based hotel management company specializing in branded select-service and extended-stay hotels, serves as the third-party operator for the asset.
The JLL Capital Markets team was led by Senior Director John Bauman, Director Scott Dickey, Associate Jordan Buck and Analyst Charlie Mossy.