Dallas’ landmark Mansion on Turtle Creek hotel has sold

The landmark Rosewood Mansion on Turtle Creek hotel has a new owner.

The 142-room, nine-story luxury hotel and adjoining restaurant have been purchased by Dallas-based investor HN Capital Partners.

The posh Dallas hotel opened in 1981 and has been one of the area’s top spots for celebrity stays for decades. Since 2011, the iconic property has been owned by a Hong Kong investor. The new owners plan to continue operating the Mansion on Turtle Creek with Rosewood Hotels & Resorts.

“This magnificent estate offered HN Capital a unique opportunity to further invest in the Dallas community, and we’re excited to continue to forge even stronger bonds with local partners as we begin work on enhancing what this iconic hospitality destination has to offer,” Vipin Nambiar, founder of HN Capital Partners, said in a statement. “Our goal is to respect the hotel’s history and work closely with the Rosewood team to further expand the luxury offerings and imagine new services that ensure that the Rosewood Mansion on Turtle Creek remains the most beloved hotel for the Dallas community and travelers alike.

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“Our aspiration always remains the same: to use our training as architects, planners, finance and legal professionals with the guiding principle of leaving something better than we found it.”

KSL Capital Partners and InterBank provided funding for the purchase. Terms of the transaction were not disclosed.

InterBank provided a $77.5 million loan toward the purchase.

Nambiar said Thursday that his firm is planning upgrades to the storied Dallas hotel.

“We think it’s a great canvas with which to do something special,” he said. “The rooms have been done well.

“You are going to see us work with Rosewood reimagining from the standpoint of the the food and beverage and the wellness amenities we can add.”

He said the new owners want to preserve the Mansion’s history while growing its appeal.

“Making sure this asset is put forward for the next 20 years so it retains its status as one of the best places in Dallas is important to me,” Nambiar said. “We will ensure its transition as a luxury hotel for the next generation occurs.

“Our singular focus is going to be sure we deeply preserve its narrative and get the Gen Z and millennial generations to better identify with it.”

The Mansion on Turtle Creek owes its existence to the late Dallas businesswoman and oil heiress Caroline Rose Hunt. In the late 1970s, she acquired the site with a derelict mansion that was built in the 1920s by a Dallas cotton tycoon. The Italian Renaissance-style house overlooking Turtle Creek was facing demolition when Hunt bought it to be the centerpiece of the planned hotel project.

Her Rosewood Corp. originally partnered with New York’s fabled 21 Club to operate the restaurant, which quickly became a favorite hangout for Dallas’ elite and visitors from around the world.

The Mansion hotel got a refresh in 2020, just in time for its 40th anniversary.

“Deeply rooted in Dallas’ landscape and history, Rosewood Mansion on Turtle Creek prides itself on being a pillar of its community, providing the best experience possible for visitors, guests and associates,” Radha Arora, president of Rosewood Hotels & Resorts, said in a statement. “The Rosewood brand is thrilled to work with HN Capital Partners to continue this legacy.”

New owner HN Capital Partners is a private real estate investment firm. Its local holdings include the W Hotel in Victory Park and multiple properties in the Dallas Design District. It was involved in the planning and development of the Dallas Virgin Hotel in the Design District.

HN Capital also has control of a prime Turtle Creek development site that was previously planned for a Mandrian Oriental Hotel.

The property firm just completed a redo of the Hotel Per La in Los Angeles, formerly known as NoMad LA.