Multifamily investments group engaged to find back-up buyer for Statler
DALLAS, TX – – Henry S. Miller Brokerage’s Multifamily Investments Group has been petitioned by the property owner to market and secure back-up buyers for the historic Statler Hilton hotel and the adjacent Dallas Central Library. The dual property offering is located at the SEC of St. Paul Street and Commerce Street and contains two buildings totaling ±721,000 square feet and ±80,000 square feet of land.
Miller Multifamily Executive Vice President, Lew Wood says, “The owner has provided an exclusive agreement to assist in finding a qualified purchaser in the event the current contract terminates.” Miller’s Lew Wood’s qualifications include 35 years real estate experience in DFW of which 10 years have been in historical renovation projects. Wood has acquired over 4,000,000 sq. ft. of historic warehouse and old factory buildings in Dallas’ and Memphis’s urban core. The successful redevelopment of such properties generated more than 646 live-work loft spaces and garnered numerous design awards for cutting edge, urban core projects. “My team was selected because of our extensive experience in historical renovation. However big or small the role we play in the transaction, we are honored to be a part of such a notable Downtown Dallas project,” said Wood.
Wood and his multifamily investments team; Andrew Doster, Darden Orand and Eric Curtis, have completed the marketing strategy for the Statler and Dallas Central Library offering. The team wants to ensure they obtain their goal of producing a strong, qualified contingent offer on the buildings for the owner within a specified time period in the event the current contract terminates.