One of the firms behind the Knox Street development in Dallas is investing in a luxury hotel at the property.
“BDT & MSD, through its affiliated hospitality investment vehicle, will make a minority investment in Auberge Resorts Collection, the manager of the award-winning portfolio of luxury hotels, resorts, residences, and private clubs set in some of the world’s most desirable locations,” according to a BDT & MSD news release.
“In addition, BDT & MSD’s hospitality vehicle intends to invest significant capital towards acquiring and developing luxury hotel and residential assets that will be branded and managed by Auberge Resorts Collection.”
“The Knox, Auberge Resorts Collection,” is expected to open in 2026. “The city’s premier luxury hotel and exclusive private residences will bring an exhilarating new allure to the social district,” reads a website for the project.
The Dallas Express reported in December that construction has begun at Knox Street, the mixed-use development that includes the Knox Hotel and Residences, 1 million square feet of retail, office, residential, and hotel space, including the luxury hotel, a 173-unit multifamily tower, and a 48-unit luxury high-rise condominium building near Katy Trail. Expected to open in 2026, Knox Street bears an estimated construction cost of more than $619 million.
BDT & MSD invests on behalf of Michael Dell, founder of Dell Technologies. BDT & MSD was created in 2023 after combining BDT & Company and MSD Partners.
“This partnership further solidifies Auberge Resorts Collection’s position as the leading name in boutique luxury hospitality and marks a new and exciting era for our world-class portfolio,” said Dan Friedkin, chairman of Auberge Resorts Collection and chairman and CEO of The Friedkin Group, in the release.
“BDT & MSD’s differentiated, long-term capital and expertise in luxury hospitality investments makes them a perfect strategic partner and will allow us to further grow the strength of the Auberge brand.”
Although the metroplex has experienced a significant amount of real estate development in recent years, Dallas has seen its share of construction activity decelerate over the same period, in part because of its periodically difficult building permit process under City Manager T.C. Broadnax.
