Loews Hotels is adding to its dominance in Arlington with the purchase of a third hospitality property.
The New York-based hotel firm – which owns one Arlington Hotel and has another under construction – has acquired the 311-room Sheraton Arlington Hotel just south of Interstate 30.
Built in 1984, the 19-story hotel has about 26,000 square feet of meeting space and was last renovated in 2009.
Loews Hotels gained control of the hotel – which is on a ground lease from the city of Arlington – from an Atlanta-based real estate firm, county records show. Terms of the transaction were not disclosed.
Control of the hotel was transferred to a company called Go For Three LLC, which listed Loews’ chief business officer Constantine Dimas as its senior vice president. A deed of trust listed $150 million in debt connected to the transaction.
Loews Hotel representatives confirmed the purchase but offered no details about plans for the property.
“Loews Hotels & Co has acquired the 14-acre Sheraton in Arlington,” Loew’s Sarah Murov said in an email. “We continue to evaluate the site in conjunction with our long-term vision for Arlington. Loews Hotels is a strong believer in Arlington given our existing sizeable commitment to the destination.”
The hotel company in Arlington is building the $550 million Loews Arlington Hotel and convention center started in 2021 between the Texas Rangers’ Globe Life Field and Choctaw Stadium, the Rangers’ former home.
The high-rise hotel project includes 888 rooms, 266,000 square feet of meeting space and the 150,000-square-foot Arlington Convention Center.
The new hotel, which opens early next year, will be connected by a skybridge to the $150 million Live! By Loews-Arlington hotel that opened in 2019.
With the Sheraton purchase, Loews now has almost 1,500 hotel rooms open or on the way in Arlington’s entertainment district.
