Texoma 35 has sold the Fairfield Inn & Suites Gainesville (Texas) I-35. The transaction was brokered by Hunter Advisors SVP Kami Burnette and VP Mason McDavid on behalf of the seller. Terms of the deal were not disclosed.
Built in 2019, the Fairfield Inn & Suites Gainesville I-35 is an 83-key, four-story select-service hotel within the Marriott portfolio. Amenities include an indoor pool, a fitness center, a business center and 450 square feet of meeting space. Located directly off Interstate 35 in North Texas, the hotel is close to key demand generators including Safran Seats USA, North Central Texas College, Gainesville Municipal Airport and WinStar World Casino, which draws more than 300,000 visitors annually.
Known as the “Front Porch to Texas,” Gainesville is 60 miles north of the Dallas-Fort Worth Metroplex along Interstate 35, an essential NAFTA Corridor. The city is a regional hub for manufacturing, agribusiness, healthcare and logistics, employing more than 20,000 people across a diversified economic base that continues to attract investment and job growth.
“Gainesville continues to benefit from strong industrial demand along I-35 between DFW and Oklahoma City,” McDavid said in a statement. “When you combine that with Marriott’s brand strength and added leisure demand from WinStar World Casino, it makes for a compelling long-term hold.”
“Small issues can derail a transaction in this environment,” Burnette added. “Thanks to the collaborative efforts of the seller, we were able to overcome financing challenges to close this transaction.”
"It is a challenging environment for hotel sales these days, even with a well-positioned asset like this one,” Nima Bhojani, on behalf of Texoma 35, said in a statement. “We are grateful to the Hunter team for guiding this transaction to a successful closing. They were with us every step of the way. We couldn't have done it without them."