Candy's Dirt reported
The deal has gone through, and just as Candy predicted, Mehrdad Moayedi and his firm, Centurion American, have purchased the Statler Hilton form Leobardo Trevino’s Ricchi Investments.
Of course, there’ll be no pomp and circumstance or champagne cork popping in the streets like the celebration dance City Hall enjoyed when Trevino bought the famed midcentury modern hotel at 1914 Commerce Street. And while Ricchi Investments had ambitions plans for this incredible piece of downtown Dallas real estate, Moayedi brings an incredible plan and pairs it with a proven track record
Here’s what Candy said last October:
Centurion American Development Group is in the process of trying to buy the Statler downtown. If all goes down smoothly, Mehrdad will convert the historic 19-story, 800-room Statler to a boutique hotel and high-end residential with some retail component on the first floor, including a grocery store and movie theater.
Hallelujah! Seriously, that is just what downtown Dallas needs and it is about high time.
As you may know, I have given Mehrdad the title of “St. Stoneleigh” as he bought the Stoneleigh Residences out of bankruptcy for $4.5 million in 2010, got the place going vertical again last February, and is selling them like hotcakes but reduced the units to 70 from 120, to make them larger.
We can’t wait to see what Moayedi does with this incredible William Tabler-designed property, which has hosted the likes of Tony Bennett, Frank Sinatra, Nat King Cole, and Elvis Presley.
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