Texas + Hospitality | December 22, 2020

Hilton Southlake Trades to Driftwood Capital

Miami-based Driftwood Capital acquired the Hilton Dallas Southlake Town Square, a 248-key, five-story hotel in the Dallas suburb of Southlake, approximately 10 minutes from Dallas-Fort Worth International Airport. Driftwood Capital acquired the asset from Hobbs & Curry family limited partnership for an undisclosed price, and plans to invest $5 million in property renovations over the next 12 months.

Earlier this year, Driftwood raised $250 million to launch three new development, acquisitions and mezzanine lending GP funds. The Southlake property was acquired through the acquisition fund, which targets hotel opportunities in the $30-million to $150-million range.

Driftwood will open the new acquisition to investors for syndication in early February, with a minimum investment of $50,000. The firm retains a 10% stake in all its hotel investments.

“The Hilton Southlake offered a high-quality asset in a premier location with ample upside opportunity,” said Carlos Rodriguez Sr., CEO of Driftwood Capital.

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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