Dallas, Texas
Civitas Galleria Hotel Mezzanine Fund, LP made a $13 million mezzanine loan to partially finance the development of a new 256-room dual-branded AC by Marriott Dallas North and Residence Inn by Dallas North adjacent to The Galleria Dallas, a 1.8-million square feet regional mall, and within a 1-mile radius of over 11.5-million square feet of office space in Dallas, Texas. AC and Residence Inn by Marriott Dallas North will anchor Dallas Midtown Redevelopment Plan, a new $3.5 billion mixed-use development containing 6.5-million square feet of office tower space, 9,000 residential units, 1-million square feet of retail, restaurants, and entertainment and an 18-acre park.
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