Napali Capital/Napali Hospitality Group Acquires Tru by Hilton Dallas Market Center
ROANOKE, TX—Napali Capital, LLC, a leading Texas-based real estate investment company, today announced the acquisition of Tru by Hilton Dallas Market Center in Dallas, Texas.
Originally constructed as a bank in 1965 (and operated as an office building prior to the renovation), the hotel opened in January 2021 as Tru by Hilton Dallas Market Center, following a comprehensive gut renovation which included a complete modernization of both the interior and exterior of the building.
Today the hotel represents the newest upper-midscale lodging asset in the Dallas Central Business District/Market Center STR tract. Featuring a contemporary design across an open floor plan, the hotel offers a young-at-heart experience synonymous with the Tru brand. Brand-new amenities include two F&B venues (including a 24/7 market stocked with drinks and gourmet snacks), a highly activated lobby featuring foosball, billiards, other games, and a fitness center.
Napali Hospitality intends to infuse over $400,000 in capital to upgrade the stunning rooftop deck into SkyBlue at the Tru, the newest rooftop experience in Dallas, providing unmatched views of the Dallas skyline. Additionally, the company has engaged Aimbridge Hospitality, a leading multinational hospitality company, to assume day-to-day operations of the property.
“We couldn’t be more excited to expand the Napali footprint in the Dallas market and with an asset that is irreplaceable and has simply the best views of the city,” said Napali Capital co-founder and Managing Partner, Tim Black (former COO of Great Wolf Resorts.) “We are looking forward to delivering the best guest service and an incredible upside to our investors― and that is our ultimate goal.”
Tru by Hilton Dallas Market Center is Napali Hospitality’s second acquisition. The company purchased Home2 Suites by Hilton – Charlotte University Park in late 2019. The company’s portfolio now totals 15 assets in hospitality, multifamily and industrial assets.