Le Meridien Fort Worth Downtown

Property and ground lease

Le Meridien Fort Worth Downtown is a 188-room, 254,778-square-foot full-service hotel rising 14 stories at 815 Commerce Street in downtown Fort Worth, Texas ². On September 3, 2025, Capital Square acquired a 99-year unsubordinated ground lease with 95 years remaining beneath the hotel on behalf of CS1031 Zero Coupon DFW Hospitality, DST; the trust holds only the land, the ground-landlord interest, and the reversionary interest, with rent escalating 2% annually ¹.

Tenant and operator

The ground tenant, 815 Commerce LLC, and the hotel operator are entities controlled by Ashford Hospitality Trust (NYSE: AHT). The hotel runs under a 25-year franchise agreement with Marriott International's Le Meridien brand, and Remington Hospitality serves as third-party manager ¹.

Cash-flow structure

The trust is structured as a zero-coupon DST with an in-place loan-to-value ratio of about 77.78% ². Fixed ground rent of roughly $1.63 million in year one, growing 2% annually, is designed to approximately equal debt service, so the structure produces no periodic distributions; investor returns accrue through loan amortization and the reversionary interest at disposition ¹.

Offering

On March 11, 2026, Capital Square reported that the DFW Hospitality DST closed as part of a batch of three completed DST offerings totaling $396 million in aggregate equity raised across its platform ³.