HOUSTON, TX, August 27, 2019: HVS Brokerage & Advisory announced today that it has closed on the sale of the 70-key Hampton Inn Houston NASA-Johnson Space Center located at 3000 NASA Road One in Seabrook, Texas, for an undisclosed amount.
This transaction highlights HVS’s ability to successfully execute a targeted sales process resulting in an off-market transaction that had a mutually beneficial outcome for both the seller and buyer, both of whom are local investors in the Houston market.
Veritas Hospitality LLC acquired the Hampton Inn Houston NASA-Johnson Space Center from the seller, Seabrook Hospitality LP. This asset is the first Hilton-branded hotel in the buyer’s portfolio, "Having a discreet sale was very important to me as I've owned this asset for a while and have a good relationship with employees. I didn't want the news of a potential sale to disrupt my day-to-day operations. HVS did a great job with its targeted marketing process and was able to find a buyer in two weeks. We will continue to work together as our group considers the sale of several other assets," said Sal Bhakta, President of Seabrook Hospitality. The hotel, which was built in 2017, includes a breakfast dining area, an outdoor pool and whirlpool, an exercise room, a fitness center, and a boardroom.
The property is located within the Houston Bay Area and is surrounded by a diverse mix of demand generators including NASA’s Johnson Space Center, Kemah Boardwalk, Arkema, Honeywell, Celanese, Bayer, ExxonMobil, and the Bayport Industrial District. Seabrook’s thriving community offers many amenities for business, living, and recreation, including Galveston Bay and the Kemah Boardwalk.
“HVS greatly enjoyed facilitating this buyer's growth by guiding them in acquiring their first Hilton-branded asset—a major milestone. The buyer is very familiar with this market, just having sold a mid-market hotel in the local area, and the timing of their 1031-exchange aligned perfectly with HVS's targeted marketing process for this Hampton Inn. Seabrook is a growing, resilient submarket in Houston, and the HVS Team wishes the buyer continued success,” said Eric Guerrero, an HVS Brokerage & Advisory Managing Director.
The Brokerage & Advisory team members Drew Noecker, Eric Guerrero, and James Rebullida participated in this transaction.
Media Contact:
Lizzette Casarin
Marketing Director
[email protected]
+1 (720) 244-7620
This transaction highlights HVS’s ability to successfully execute a targeted sales process resulting in an off-market transaction that had a mutually beneficial outcome for both the seller and buyer, both of whom are local investors in the Houston market.
Veritas Hospitality LLC acquired the Hampton Inn Houston NASA-Johnson Space Center from the seller, Seabrook Hospitality LP. This asset is the first Hilton-branded hotel in the buyer’s portfolio, "Having a discreet sale was very important to me as I've owned this asset for a while and have a good relationship with employees. I didn't want the news of a potential sale to disrupt my day-to-day operations. HVS did a great job with its targeted marketing process and was able to find a buyer in two weeks. We will continue to work together as our group considers the sale of several other assets," said Sal Bhakta, President of Seabrook Hospitality. The hotel, which was built in 2017, includes a breakfast dining area, an outdoor pool and whirlpool, an exercise room, a fitness center, and a boardroom.
The property is located within the Houston Bay Area and is surrounded by a diverse mix of demand generators including NASA’s Johnson Space Center, Kemah Boardwalk, Arkema, Honeywell, Celanese, Bayer, ExxonMobil, and the Bayport Industrial District. Seabrook’s thriving community offers many amenities for business, living, and recreation, including Galveston Bay and the Kemah Boardwalk.
“HVS greatly enjoyed facilitating this buyer's growth by guiding them in acquiring their first Hilton-branded asset—a major milestone. The buyer is very familiar with this market, just having sold a mid-market hotel in the local area, and the timing of their 1031-exchange aligned perfectly with HVS's targeted marketing process for this Hampton Inn. Seabrook is a growing, resilient submarket in Houston, and the HVS Team wishes the buyer continued success,” said Eric Guerrero, an HVS Brokerage & Advisory Managing Director.
The Brokerage & Advisory team members Drew Noecker, Eric Guerrero, and James Rebullida participated in this transaction.
About HVS Brokerage & Advisory
The Brokerage & Advisory Division is a specialized group within HVS that offers brokerage, debt and equity financing, and investment search services focused exclusively on the hospitality industry. With a global footprint and over 40 offices nationwide, HVS’s hospitality intelligence and extensive expertise will help you achieve the results you want. As of August 2019, the group has eight engagements in excess of $60 million that it is actively marketing for sale; additionally, another seven assets are under contract and anticipated to close soon.Media Contact:
Lizzette Casarin
Marketing Director
[email protected]
+1 (720) 244-7620