DALLAS--HFF has secured a $10.35-million refinancing for the Holiday Inn Dallas Market Center, a 200-room, full-service hotel.  

HFF worked on behalf of the borrower, a partnership between Tom Corcoran and Prism Hotels & Resorts, to place the three-year, floating-rate loan with two one-year extensions with Realty Finance Trust through its regional office in Dallas. According to the company, loan proceeds will be used to retire existing financing and free up capital for upgrades to the property.

Reps for HFF were unable to offer more details about the transaction as of press time.

The Holiday Inn Dallas Market Center is located at 4500 Harry Hines Blvd. in north central Dallas, near the 110-acre Dallas Market Center and the Dallas Medical District, which spans six million square feet and includes University of Texas Southwestern Medical Center and Parkland hospital.

The hotel underwent extensive renovations in 2007 and 2008 when it was rebranded into a Holiday Inn hotel, and it will continue to be updated in the coming months and years. The hotel features a health and fitness center, outdoor pool, business center, meeting space, and a sports bar and restaurant.

Associate director Michael Cosby and managing directors John Bourret and Daniel O'Donnell led the HFF debt placement team representing the borrower.