DALLAS--HFF has secured $35.65 million in financing to redevelop a vacant office building into a dual-branded Marriott hotel with 206 rooms in downtown Dallas.

HFF worked on behalf of the borrower, NewcrestImage, to secure the financing through Fifth Third Bank.

The borrower is taking the 22-story Mercantile Commerce Building, which has been vacant since the 1980s, and redeveloping it into a select-service hotel that encompasses two Marriott brands: AC Hotels, which are modern hotels with Spanish roots and European design, and Residence Inn, an extended-stay all-suite hotel. The hotel will feature a fitness center, lobby lounge and bar, business center and meeting space with two boardrooms that can fit up to 14 people each. The hotel will also have a 360-space parking garage. Located at 1712 Commerce St., the new hotel will be located south of the Main Street District in downtown Dallas and less than one block from the Main Street Garden Park.

According to HFF, the hotel will be located in one of the largest employment centers in North Texas with more than 35.3 million square feet of office space.

Senior managing director Travis Anderson and director Jim Curtin led the HFF debt placement team representing the borrower. HFF's Dallas office did not offer further comments about the news.

Instant Insights /

HFF Secures Financing for Downtown Hotel

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