(Rockwall) August 7, 2012 – Affiliates of The Redstone Companies, L.P. and BBA Capital, LLC have formed a joint venture with Sara and Rob Whittle and Mike Whittle and acquired Hilton Dallas/Rockwall Lakefront in the exclusive lakeside community of Rockwall, 22 miles east of downtown Dallas.
The Whittles designed and built the property, which opened in 2008. The Whittles brought in Redstone and BBA Capital to create a newly formed venture to acquire the hotel.
“We are extremely excited to partner with Redstone and BBA Capital to take Hilton Dallas/ Rockwall Lakefront to the next level,” said Rob Whittle. “We recently added a modern 52-seat amphitheater style training center to complement our 28,000 square feet of meeting space. With our new partners, we will continue to grow the property with new renovations to preserve an exceptional experience and to continue offering first-class customer service for our guests.”
“Hilton Dallas/Rockwall Lakefront has always been supportive of philanthropic causes in Rockwall County and North Texas, and our new partners also share this enthusiasm,” added Sara Whittle.
Hilton Dallas/Rockwall Lakefront is a AAA 4 Diamond Award property. It features 231 rooms including 16 suites, and four themed suites. The hotel boasts over 28,000 square feet of meeting and event space encompassing 17 separate meeting rooms, including the spacious 11,870-square-foot Bella Harbor Ballroom and a 52-seat corporate training center equipped with state-of-the-art teleconferencing and videoconferencing capabilities. The hotel also features a fitness center, business center, resort pool and numerous dining options with award-winning cuisine.
The beautiful rotunda Compass Rose offers spectacular outdoor views to enjoy the ideal year-round beauty of Lake Ray Hubbard for meetings, meal functions, and receptions. The hotel is set in The Harbor Rockwall, a Mediterranean-style boardwalk development featuring excellent shopping, dining and entertainment.
Since opening in 2008, the Hilton Dallas/Rockwall Lakefront has enjoyed a steady growth of business under the management of Gateway Hospitality Group. Gateway will continue to manage the property and maintain its prominence in The Harbor at Lake Ray Hubbard. City Bank Texas provided permanent financing for the acquisition as part of the transaction.
About Whittle Development
Rob Whittle and Sara Whittle of Whittle Development have distinguished themselves as the largest private residential developer in the fastest growing county in Texas. They have shaped the residential landscape in Rockwall County, with more than a dozen separate communities with home values from the low $100,000s to more than $2,000,000, including the development of the Buffalo Creek Golf Course and more than 600 associated lots. Their development of the Harbor District and Hilton Dallas/Rockwall Lakefront has become the entertainment and civic center for Rockwall County. Rob and Sara’s vision culminates in Heath Golf & Yacht Club – combining the ultimate in recreational amenities and residential development in the Dallas metropolitan area.
About The Redstone Companies
The Redstone Companies is a privately-owned company located in Houston, TX, with a focus on real estate, hospitality and private equity. Redstone Companies Real Estate is strategically focused on real estate acquisitions, development and growth opportunities that are aligned with Redstone’s strategic objectives and business philosophy. Properties in Houston include The Redstone Building, BBVA Compass Plaza at 2200 Post Oak Boulevard, Wilson Road Office Building and 2020 McKinney.
Redstone’s owned and operated hospitality brands include The Houstonian Hotel, Club & Spa; Trellis, The Spa; Houstonian Lite-Pennzoil; Health Club at Travis Place, Shadow Hawk Golf Club; The Houstonian Golf & Country Club; Redstone Golf Club; and BlackHorse Golf Club. Managed properties include Houstonian Lite-Wells Fargo and Vanderbilt Legends Club in Franklin, TN.
The Redstone Companies has been involved with many charitable programs throughout the years, including, but not limited to, the Shell Houston Open, The First Tee of Greater Houston, the YMCA of Greater Houston and the Zina Garrison Academy. For more information, please visit www.redstonecompanies.com.
About BBA Capital, LLC
BBA Capital, LLC is a development and investment affiliate of K. Alan Russell of El Paso, Texas. Mr. Russell’s real estate investment and development experience over the past 30 years has been extensive. His most recent real estate endeavors range from industrial facility joint ventures with ING/Clarion to residential resort golf course developments. BBA benefits from his extensive real estate experience, keen attention to detail and operational efficiencies, honed by his success in the maquila industry, with insight into market trends and the dynamics of capital and financing. Mr. Russell is also the President and CEO of Tecma, Inc., a significant owner and operator of maquilladoras in Mexico providing contract manufacturing services to a retinue of esteemed international clients. For more information, please visit www.tecma.com.
About Gateway Hospitality Group
Gateway Hospitality Group is an independent master developer and ongoing operator of complete hospitality packages from hotel concept visioning to daily food and beverage budgeting. Owned and managed by experienced hospitality specialists, Gateway Hospitality Group is also an authorized Hilton, Hyatt and Marriott Hotels management company for both limited-service with conference space and full-service hotels.
Submitted by Karyn M. Kreps-Frisina, K2 Enterprises / Gateway Hospitality Group.
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