$50M First Bank loan recorded on Virgin Hotel Dallas site

A $50,000,000 deed of trust from First Bank was recorded Oct. 1 against the Virgin Hotel lot in Dallas’s Design District, with HN DD HOTEL OWNER LLC as the borrower. It is a loan, not a sale: Texas deeds carry no price. For developers and lenders, it shows bank debt at this scale being placed on a Design District hospitality asset this fall.

Why it matters

The Dallas County Clerk record (instrument 202600212014, dated Sept. 30) puts new bank debt on an operating Design District hotel site. The legal description reads Virgin Hotel addition, Lot 5A, Block 36, NCB 7888. A reference on the filing points to an earlier instrument, 202000259284, which suggests an existing recorded document on the same lot. We did not pull that earlier instrument, so we cannot say whether this loan refinances or replaces prior debt.

The borrower is not new. The Texas Comptroller shows the entity registered in Texas on Jan. 5, 2021, with an active right to transact business. The “HN” prefix matches HN Capital, a Dallas investor that the Dallas Express reported in 2022 had been an early development partner on Virgin Hotels Dallas. The record itself does not name HN Capital, so we treat that link as a name match, not a confirmed ownership statement.

The numbers

• Loan amount: $50,000,000, per the recorded deed of trust. The amount was read from the filing snippet on the clerk’s portal.
• Recorded: Oct. 1, 2026. Instrument date: Sept. 30, 2026.
• Parties: HN DD HOTEL OWNER LLC (grantor) and First Bank (grantee).
• Legal description: Lot 5A, Block 36, NCB 7888, Dallas.
• Borrower registration: Delaware entity, Texas registration effective Jan. 5, 2021, right to transact active.
• Price per sq ft: not computed. The record gives no building or lot area, and no sale price exists.

What’s next

The filing does not say whether the loan funds a refinancing, renovation or recapitalization. Watch the Dallas County Clerk for a release of any prior lien on the lot and for a related assignment or modification.

We have not seen a recorded deed transferring the property in this filing. Further recordings on the lot would show whether ownership changes. More Dallas recordings are tracked on the Dallas market page.