Driftwood Capital Provides $30M Mezzanine Loan for Sheraton Dallas Hotel

by Taylor Williams

DALLAS — Driftwood Capital, a Miami-based lender, has provided a $30 million mezzanine loan for the refinancing of the 1,841-room Sheraton Dallas Hotel. Built in 1959, the recently renovated hotel is located at 400 Olive St. in the downtown area and features 230,000 square feet of meeting and event space and five onsite restaurants in addition to standard hospitality amenities. The two-year, floating-rate loan includes three one-year extension options and supplements a $270 million senior loan provided by Goldman Sachs and JP Morgan Securities. The sponsor is San Francisco-based Chartres Lodging Group.

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