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Statler Hilton Sale Earns Dallas Honors

DALLAS, TX –– Henry S. Miller Brokerage’s Multifamily Investments Team was honored this week by the Dallas Business Journal for their involvement in the sale of the Statler Hilton & Old Dallas Library in downtown Dallas.  Lew Wood, EVP/Principal, Andrew Doster and Darden Orand, along with the new owner of the hotel, Mehrdad Moayedi, were awarded the 2014, Dallas Business Journal (DBJ), Best Rehab/Reuse Deal at the DBJ Best Real Estate Deals of the Year event at the Ritz-Carlton.  This recognition follows the Statler Hilton & Old Dallas Library transaction winning D CEO’s Best Commercial Property Sale of 2014 in April.

“It was an honor being a part of this complicated and historic transaction within the city of Dallas and state of Texas. This future development will be a catalyst for the east side of downtown Dallas and become a chic live/work/play destination not just locally, but internationally.  We want to graciously thank and recognize our client Leobardo Trevino of The Ricchi Group for the everlasting support during the sale. Mr. Moayedi of Centurion American Development will transform the former Statler Hilton and Old Dallas Library, once again, into iconic attractions,” said Lew Wood.

This will truly be an amazing attraction for the city of Dallas.  Mr. Moayedi has recently confirmed the completion of environmental remediation and completion of all interior demolition by April 15.  Plans are for 160 hotel rooms and 260 apartment units with renovated ballroom and possibly four new restaurants in the 10,000 square foot (est) of retail space.

“Our involvement in this transaction is yet another example of Henry S. Miller Company’s storied tradition of handling some of the most significant historical Dallas landmarks.  The Henry S. Miller story is a compelling saga that will forever be intertwined with the growth of Dallas into a world class city over the last century,” said Greg Miller, President & CEO of Henry S. Miller Cos.