Colony Capital Takes Back Foreclosed 500-Key Hotel

Ownership of the 500-room Hilton Dallas Lincoln Centre in Dallas reverted back to its lender, Colony Capital. The lender, a publicly traded REIT, gained ownership control of the property at LBJ Freeway and the Dallas North Tollway, following a foreclosure sale in early August 2018.

Roddy’s Foreclosure Listing Service, which initially recorded the foreclosure filing, said no bidders attended the sale. Hilton continues to operate the 20-story hotel. Colony Capital’s plans for the hotel, which is situated on 3 acres, are not clear.

The lender was owed $75 million on the property, which then-owner Apollo Real Estate signed for in 2014. The loan was declared in default in mid-July, 2018.

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