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HEI Hotels & Resorts has been busy buying value-add hotel properties, in a range of deals that show how one of the hardest-hit commercial property sectors has turned into an arena of opportunity for those with means and know-how. Earlier this year, the independent Norwalk, CT-based hotel owner and operating company purchased the 309- room Sheraton Dallas North in Texas for roughly $10 million. The Northern Dallas property was its second hotel acquisition of 2011, its sixth under Starwood’s Sheraton brand and HEI’s 34th owned hotel.

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