JLL Arranges Refinancing for Renovated 300-Room Hilton Dallas Plano Granite Park on Behalf of Driftwood Capital

JLL's Hotels & Hospitality group has arranged the refinancing of the Hilton Dallas Plano Granite Park, a 300-room full-service hotel in West Plano, Texas, on behalf of borrower Driftwood Capital, the firms announced July 28, 2026.

JLL secured a floating-rate, three-year loan through a debt fund for the property, which sits within Granite Park — a 90-acre, Class A mixed-use development at the intersection of Dallas North Tollway and Sam Rayburn Tollway. The loan amount was not disclosed.

Post-Renovation Refinancing Follows $8.5 Million Property Overhaul

Driftwood Capital acquired the hotel in June 2023 and completed a comprehensive $8.5 million renovation in March 2025. The scope of work covered all 300 guestrooms — comprising 144 king rooms, 140 queen rooms and 16 suites — as well as public spaces throughout the nine-story building.

The renovation also repositioned the property's food and beverage program. The hotel now operates Carso Restaurant, offering indoor and outdoor dining; Carso Market, a grab-and-go concept; and Prairie Fire bar, which features an outdoor patio. The property includes approximately 30,000 square feet of meeting space, anchored by the Prairie Ballroom, which can accommodate up to 1,300 guests for conferences, weddings and social events.

The three-year, floating-rate structure and debt fund lender are consistent with bridge-style capital used to carry assets through a post-renovation ramp period, particularly in a market environment characterized by interest rate volatility.

Corporate Demand and Mixed-Use Setting Underpin Hotel's Business Case

The hotel's position within Granite Park is central to its demand profile. The development encompasses more than three million square feet of Class A office space occupied by Fortune 500 companies, along with The Boardwalk, a waterfront dining and entertainment district. As of year-end 2025, transient business travelers accounted for more than 30% of room nights at the property, while group business represented nearly 15%.

The hotel is one of a limited number of large, full-service properties with significant meeting capacity in the immediate West Plano corridor, where its competitive set includes properties such as the Dallas/Plano Marriott at Legacy Town Center, the Renaissance Dallas at Plano Legacy West and the Westin Stonebriar in Frisco.

Managing Director Jeffrey Bucaro of JLL's Capital Markets team, who led the transaction alongside Analyst Malia Buljat, commented on the deal's rationale. "This financing reflects the strength of Driftwood Capital's renovation strategy in our opinion and the hotel's exceptional position within one of Dallas's most dynamic mixed-use developments," Bucaro said. "The property's location within Granite Park provides immediate access to Fortune 500 corporate demand while West Plano continues to attract headquarters relocations and currently operates in a market characterized by relatively favorable supply conditions."

West Plano and Frisco Submarket Draws Corporate Relocations

The hotel is located within the West Plano and Frisco submarket of the Dallas-Fort Worth metroplex, which is projected to add more than 595,000 new residents through 2030, making it one of the nation's fastest-growing metropolitan areas. The submarket has attracted significant corporate relocation activity, driven by its diversified talent pool, high-quality real estate and strategic position within the broader DFW region.

The area benefits from proximity to entertainment and retail destinations including Legacy West, The Star in Frisco and PGA Frisco, as well as multiple professional sports venues. The hotel provides complimentary shuttle service to nearby attractions. West Plano and Frisco house numerous Fortune 500 companies and have experienced sustained corporate expansion, historically supporting demand for business accommodations throughout the year.

Business travel and group demand have been recovering steadily across U.S. business-oriented submarkets, with many approaching or surpassing 2019 RevPAR levels by 2025–26 — a trend that aligns with the corporate and group orientation of the Hilton Dallas Plano Granite Park.

About the Firms

Driftwood Capital is a full-service hotel platform specializing in acquisitions, development, lending and property management. The firm's principals have more than 30 years of industry experience and have transacted on more than $5 billion in hospitality assets through various affiliated entities.

JLL is a global commercial real estate services and investment management company with annual revenue of $26.1 billion and operations in over 80 countries. JLL's Capital Markets group includes more than 3,000 specialists worldwide with offices in nearly 50 countries, providing services including debt advisory, investment sales, equity and fund placement, and net lease advisory.

Sources

JLL Newsroom: JLL arranges refinancing for newly renovated Hilton Dallas Plano Granite Park