{"id":1004051624,"date":"2011-08-05T12:48:04","date_gmt":"2011-08-05T20:48:04","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=12557"},"modified":"2022-12-01T13:26:15","modified_gmt":"2022-12-01T21:26:15","slug":"inland-pays-69m-for-fairmont-dallas","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/inland-pays-69m-for-fairmont-dallas\/","title":{"rendered":"Inland Pays $69M for Fairmont Dallas"},"content":{"rendered":"

By Georgiana Mihaila, Associate Editor<\/p>\n

The historic Fairmont Hotel in Dallas traded hands this week for the reported amount of $69 million, or $127,000 per key. According to city records, the seller was PCCP DCP Dallas Hotel, an affiliate of El Segundo, Calif.-based Pacific Coast Capital.<\/p>\n

The Fairmont opened in 1969 as the first luxury hotel in Dallas and consists of 545 guest rooms in two towers and 70,000 square feet of meeting space.The 24-story, two-tower property is located at 1717 N. Akard St., within walking distance of the central business district and Financial District and less than one mile from Victory Park and the West End.<\/p>\n

Buyer Inland American Lodging Group Inc., a wholly owned subsidiary of Inland American Real Estate Trust Inc., is taking title to a hotel that offers exclusivist accommodations, which\u00a0underwent approximately $50 million in capital improvements since 1997, including $14.9 million ($27,300 per key) during the past four years.<\/p>\n

“This unique asset represents a significant acquisition for Inland American at an attractive price per room,\u201d said Marcel Verbaas, president & CEO of\u00a0Inland American Lodging Advisors Inc. \u201cThe acquisition of this hotel will contribute to the ongoing enhancement of the overall quality of our portfolio and further diversifies our portfolio by customer and asset mix. This transaction also extends our commitment to furthering the success of downtown Dallas and the Arts District.\u201d Inland American plans on investing additional capital in improvements to maintain and improve the hotel\u2019s luxury status.<\/p>\n

This is the second significant acquisition for Inland American Lodging Group, following its October purchase of the 407-room Dallas Marriott City Center, currently under renovation and slated for re-opening by the end of the year.<\/p>\n","protected":false},"excerpt":{"rendered":"

By Georgiana Mihaila, Associate Editor
\nThe historic Fairmont Hotel in Dallas traded hands this week for the reported amount of $69 million, or $127,000 per key. According to city records, the seller was PCCP DCP Dallas Hotel, an affiliate of El […]<\/p>\n","protected":false},"author":39,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1586,21742],"tags":[],"class_list":["post-1004051624","post","type-post","status-publish","format-standard","hentry","category-dallas","category-latest"],"acf":[],"yoast_head":"\nInland Pays $69M for Fairmont Dallas - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/inland-pays-69m-for-fairmont-dallas\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Inland Pays $69M for Fairmont Dallas\" \/>\n<meta property=\"og:description\" content=\"By Georgiana Mihaila, Associate Editor The historic Fairmont Hotel in Dallas traded hands this week for the reported amount of $69 million, or $127,000 per key. According to city records, the seller was PCCP DCP Dallas Hotel, an affiliate of El [...]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/inland-pays-69m-for-fairmont-dallas\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2011-08-05T20:48:04+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-01T21:26:15+00:00\" \/>\n<meta name=\"author\" content=\"Amalia Otet\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/inland-pays-69m-for-fairmont-dallas\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/inland-pays-69m-for-fairmont-dallas\\\/\"},\"author\":{\"name\":\"Amalia Otet\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/9f6a1043b1429cf8ff129c75614caa73\"},\"headline\":\"Inland Pays $69M for Fairmont Dallas\",\"datePublished\":\"2011-08-05T20:48:04+00:00\",\"dateModified\":\"2022-12-01T21:26:15+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/inland-pays-69m-for-fairmont-dallas\\\/\"},\"wordCount\":279,\"commentCount\":0,\"articleSection\":[\"Dallas\",\"News\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/inland-pays-69m-for-fairmont-dallas\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/inland-pays-69m-for-fairmont-dallas\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/inland-pays-69m-for-fairmont-dallas\\\/\",\"name\":\"Inland Pays $69M for Fairmont Dallas - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#website\"},\"datePublished\":\"2011-08-05T20:48:04+00:00\",\"dateModified\":\"2022-12-01T21:26:15+00:00\",\"author\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/9f6a1043b1429cf8ff129c75614caa73\"},\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/inland-pays-69m-for-fairmont-dallas\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/inland-pays-69m-for-fairmont-dallas\\\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/inland-pays-69m-for-fairmont-dallas\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Inland Pays $69M for Fairmont Dallas\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#website\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/\",\"name\":\"Commercial Property Executive\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/9f6a1043b1429cf8ff129c75614caa73\",\"name\":\"Amalia Otet\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/6b04062ec19b075e11c42269b5c31dfb32bdf83e40d929924449e4c1828aaa3c?s=96&d=mm&r=g\",\"url\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/6b04062ec19b075e11c42269b5c31dfb32bdf83e40d929924449e4c1828aaa3c?s=96&d=mm&r=g\",\"contentUrl\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/6b04062ec19b075e11c42269b5c31dfb32bdf83e40d929924449e4c1828aaa3c?s=96&d=mm&r=g\",\"caption\":\"Amalia Otet\"},\"description\":\"Amalia Otet leads publishing and content for Yardi products, where she turns real estate data and market trends into stories that inform and inspire. Outside of work, Amalia strives to live beautifully - one green step at a time.\",\"sameAs\":[\"Macchiato\"],\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/author\\\/amaliaotet\\\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Inland Pays $69M for Fairmont Dallas - Commercial Property Executive","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.commercialsearch.com\/news\/inland-pays-69m-for-fairmont-dallas\/","og_locale":"en_US","og_type":"article","og_title":"Inland Pays $69M for Fairmont Dallas","og_description":"By Georgiana Mihaila, Associate Editor The historic Fairmont Hotel in Dallas traded hands this week for the reported amount of $69 million, or $127,000 per key. According to city records, the seller was PCCP DCP Dallas Hotel, an affiliate of El [...]","og_url":"https:\/\/www.commercialsearch.com\/news\/inland-pays-69m-for-fairmont-dallas\/","og_site_name":"Commercial Property Executive","article_publisher":"https:\/\/www.facebook.com\/CPExecutive","article_published_time":"2011-08-05T20:48:04+00:00","article_modified_time":"2022-12-01T21:26:15+00:00","author":"Amalia Otet","twitter_card":"summary_large_image","twitter_creator":"@cpexecutive","twitter_site":"@cpexecutive","schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.commercialsearch.com\/news\/inland-pays-69m-for-fairmont-dallas\/#article","isPartOf":{"@id":"https:\/\/www.commercialsearch.com\/news\/inland-pays-69m-for-fairmont-dallas\/"},"author":{"name":"Amalia Otet","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/9f6a1043b1429cf8ff129c75614caa73"},"headline":"Inland Pays $69M for Fairmont Dallas","datePublished":"2011-08-05T20:48:04+00:00","dateModified":"2022-12-01T21:26:15+00:00","mainEntityOfPage":{"@id":"https:\/\/www.commercialsearch.com\/news\/inland-pays-69m-for-fairmont-dallas\/"},"wordCount":279,"commentCount":0,"articleSection":["Dallas","News"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.commercialsearch.com\/news\/inland-pays-69m-for-fairmont-dallas\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.commercialsearch.com\/news\/inland-pays-69m-for-fairmont-dallas\/","url":"https:\/\/www.commercialsearch.com\/news\/inland-pays-69m-for-fairmont-dallas\/","name":"Inland Pays $69M for Fairmont Dallas - Commercial Property Executive","isPartOf":{"@id":"https:\/\/www.commercialsearch.com\/news\/#website"},"datePublished":"2011-08-05T20:48:04+00:00","dateModified":"2022-12-01T21:26:15+00:00","author":{"@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/9f6a1043b1429cf8ff129c75614caa73"},"breadcrumb":{"@id":"https:\/\/www.commercialsearch.com\/news\/inland-pays-69m-for-fairmont-dallas\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.commercialsearch.com\/news\/inland-pays-69m-for-fairmont-dallas\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/www.commercialsearch.com\/news\/inland-pays-69m-for-fairmont-dallas\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.commercialsearch.com\/news\/"},{"@type":"ListItem","position":2,"name":"Inland Pays $69M for Fairmont Dallas"}]},{"@type":"WebSite","@id":"https:\/\/www.commercialsearch.com\/news\/#website","url":"https:\/\/www.commercialsearch.com\/news\/","name":"Commercial Property Executive","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/9f6a1043b1429cf8ff129c75614caa73","name":"Amalia Otet","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/secure.gravatar.com\/avatar\/6b04062ec19b075e11c42269b5c31dfb32bdf83e40d929924449e4c1828aaa3c?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/6b04062ec19b075e11c42269b5c31dfb32bdf83e40d929924449e4c1828aaa3c?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/6b04062ec19b075e11c42269b5c31dfb32bdf83e40d929924449e4c1828aaa3c?s=96&d=mm&r=g","caption":"Amalia Otet"},"description":"Amalia Otet leads publishing and content for Yardi products, where she turns real estate data and market trends into stories that inform and inspire. Outside of work, Amalia strives to live beautifully - one green step at a time.","sameAs":["Macchiato"],"url":"https:\/\/www.commercialsearch.com\/news\/author\/amaliaotet\/"}]}},"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004051624","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/users\/39"}],"replies":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/comments?post=1004051624"}],"version-history":[{"count":1,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004051624\/revisions"}],"predecessor-version":[{"id":1004617297,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004051624\/revisions\/1004617297"}],"wp:attachment":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media?parent=1004051624"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/categories?post=1004051624"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/tags?post=1004051624"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}