Northland Properties Corporation, Hillwood announce real estate deal

FRISCO, Texas -- Northland Properties Corporation, the parent company of the National Hockey League's Dallas Stars and American Hockey League's Texas Stars, and Hillwoodannounced today the acquisition by Northland Properties Corporation of two undeveloped land tracts contiguous to American Airlines Center (AAC) from Hillwood. The two pieces of land, which lay immediately to the west and north of the arena, are represented on the map below as Lot A and Lot F.

"We are excited that Tom Gaglardiand the Dallas Stars have acquired these two great properties and we welcome them to the Victory Park neighborhood. These two sites are immediately across Victory Avenue from Hillwood's new Victory Commons office project, due to deliver in fall 2021," said Hillwood Chairman, Ross Perot, Jr. "We know Northland will do a great job enhancing what has become one of the hottest urban development areas in the United States. We look forward to working with them in the future as Victory Park continues to develop."
"American Airlines Center and Victory Park have truly become the center of downtown Dallas. Building a five-star hotel and the potential of creating a truly world-class mixed-use development contiguous to one of the world's greatest arenas is thrilling," said Chief Executive Officer of the Dallas Stars Jim Lites. "We feel that our arena has the best physical location of any facility in North America. This purchase gives us a number of options to enhance the arena experience for all National Hockey League and National Basketball Association fans, as well as the ability to further expand and develop the footprint in and around the facility."

About Northland Properties Corporation

Incorporated in 1963 by founder, Bob Gaglardi, what began as a small business dedicated to good customer service has flourished into a diversified group of companies that are quickly expanding, growing, and innovating every day. One of the most trusted names in hotels, restaurants, sports and entertainment, and construction, Northland Properties Corporation is the force behind such brands as Sandman Hotel Group, The Sutton Place Hotels, Revelstoke Mountain Resort, Grouse Mountain, Moxie's Grill & Bar, Shark Club Sports Bar and Grill, Chop Steakhouse & Bar, Denny's Restaurants, the Dallas Stars and Texas Stars, and Northland Asset Management Company. With over 60 hotels across Canada, the United Kingdom, Ireland and the United States of America, the company employs over 12,000 talented individuals across the world.
Northland Properties Corporation's expansion into the United States includes opening a Sandman Signature hotel in Plano, Texas, Moxie's Grill and Bar locations in Dallas, Plano, Houston and Miami, Florida, and a Shark Club Sports Bar and Grill in Plano. It is actively working on hotel projects in Frisco, Fort Worth, Las Colinas and Dallas, and restaurant projects throughout the Dallas Metroplex. Additionally, Northland Properties Corporation owns H-E-B Center at Cedar Park, as well as land surrounding the facility.

About Hillwood Urban

Hillwood Urban, the developer of Victory Park, is an urban mixed-use development company with extensive office, hotel, residential and retail development experience. The team is currently under construction on the first building of the three phase, 1.5 million square foot, Victory Commons office project in Victory Park. The company is also designing a new corporate office project in the Dallas core at the intersection of Woodall-Rogers and Field Street Hillwood Urban is marketing these projects to large corporate end users, while also seeking new opportunities for both urban and suburban tracts for mixed-use development located in the major growth corridors of North Texas.

About Hillwood

Hillwood, a Perot company, is a premier industrial, commercial and residential real estate developer and manager with projects throughout North America and Europe. With a diverse portfolio of properties which have become home to many of the world's leading companies, Hillwood is committed to bringing long-term value to our customers and partners and the communities in which it serves. Hillwood also served as the lead developer of marquee projects nationwide, from the Air Force Memorial in Washington, to the Perot Museum of Nature and Science and the American Airlines Center sports arena in Dallas.