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News: Front Section
Posted: July 27, 2018
Broadreach Capital Partners sells Dolce Norwalk to Queens Plaza North
Norwalk, CT Holliday Fenoglio Fowler, L.P. (HFF) completed the sale of Dolce Norwalk, a 120-room, full-service, conference-center hotel.
The HFF team marketed the property on behalf of the seller, Broadreach Capital Partners. Queens Plaza North LLC purchased the hotel.
Deal terms were not disclosed for Dolce Norwalk, with the city of Norwalk last appraising the conference center at $18.8 million.
The HFF investment advisory team representing the seller included senior director KC Patel and managing director Steven Klein.
Dolce Norwalk has been well maintained since it opened in 1982 and is currently undergoing a multi-million-dollar renovation to the hotel’s public areas so it can continue to be a center for leadership and innovation that caters to executive-level management and those who prefer an exclusive retreat setting for meetings and events. The conference center hotel comprises three buildings that are connected via suspended walkways and features a full-service restaurant; two bar/lounge outlets; an indoor pool, basketball court and racquet ball court; a fitness center; outdoor tennis and volleyball courts; hiking trails and more than 21,000 s/f of flexible meeting space. Situated on 66 acres at 32 Weed Ave., Dulce Norwalk is in Fairfield County, which is home to the largest concentration of Fortune 500 headquarters in the country.
Additionally, the hotel is 40 miles from Manhattan, 18 miles from Westchester County Airport and less than nine miles from Stamford.
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