NewcrestImage Acquires Magnolia Hotel in Downtown Dallas From Stout Street Hospitality

NewcrestImage | March 2, 2021

March 2, 2021  - The Magnolia Hotel in downtown Dallas begins the latest chapter in its long and rich history when Dallas-based NewcrestImage acquires the 325-room, 29-floor property today from Denver-based Stout Street Hospitality. It’s the first investment by NewcrestImage’s new $100 million real estate fund, which has raised more than $25 million since being announced on January 4th of this year.       The hotel is one the most recognized buildings in downtown Dallas, opening in 1922 as the headquarters offices for Magnolia Petroleum.  It was the city’s first skyscraper and the first high-rise in the United States to hav...