Crowd Investing Company Acquire Real Estate Completes its Funding for DoubleTree by Hilton DFW Airport in Strong-Performing Dallas/Fort Worth Market
Acquire Real Estate, a premier commercial real estate crowd investing platform, recently closed its crowd investing fund for the DoubleTree by Hilton DFW Airport North, a 282-room, 8-story hotel located adjacent to Dallas-Fort Worth Airport.
The project attracted a crowd of investors from across the country that contributed between $5,000 and $75,000 in investments.
Acquire Real Estate provided $262,500 in funding for the hotel, an 8-story, 282-room property located in the heart of the Dallas/Fort Worth Metroplex, one of the nation’s strongest performing economies. Acquire investors are projected to receive average annual returns above 20% paid quarterly over a 7- to 10-year term.
Funding for the crowd investment closed quickly, with many investors turning to real estate in the wake of recent stock market volatility.
“With the hospitality industry continuing to perform well, we’re seeing growing demand from our investors for high-quality hotel opportunities in strong-performing markets,” said Steven Bettinger, CEO of Acquire Real Estate. “With its excellent location and positive cash flow, the DoubleTree by Hilton DFW Airport was a natural fit for the Acquire platform.”
Located less than two miles from DFW Airport, the DoubleTree by Hilton DFW Airport is situated near a number of demand generators including employers Allstate, Siemens, Verizon, AT&T, IMB and Microsoft. Hotel amenities include 17,000 square feet of function space, a fitness center and outdoor pool, a full-service business center and airport shuttle services. The hotel was purchased in January 2015 by The Buccini/Pollin Group (BPG) for an undisclosed amount.
According to PKF Hospitality Research (PKF-HR), today’s hotel room rates have surpassed pre-recession levels. PKF-HR predicts that U.S. hotels will continue to enjoy above-average RevPAR (revenue per available room) growth through 2018, and that hotels located in airport and suburban areas—like the DoubleTree by Hilton DFW Airport—will realize the strongest gains.
Acquire’s platform features a collection of income-producing properties from top national sponsors. As a true crowd investing platform, all of Acquire’s properties are first pre-screened and then pre-funded by Acquire. Unlike competing platforms that finance payment-dependent loans, Acquire takes a unique approach in its role as equity investor, whereby it underwrites and invests in each property prior to offering it on its platform. By pre-funding its share of deals with its own capital, Acquire eliminates funding risk to its Sponsors and ensures that all parties’ interests remain aligned.
To learn more about Acquire, visit www.AcquireRealEstate.com.