HOUSTON, TX, July 23, 2021: HVS Brokerage & Advisory announces the sale of the 146-key Holiday Inn Express & Suites, located at 9300 South Main Street, Houston, Texas 77025.
The limited-service hotel property, built in 2016, was purchased by Scenic Capital Advisors, based in Austin, Texas, from Akshaj Hotels Inc., based in Houston, Texas.
“We had a very tight timeline to get my hotel sold, and Eric’s team did a great job with their targeted marketing strategy, going only to a select group of highly qualified buyers. This is my fifth transaction sold with his team, and I highly recommend them to any owner who is looking for honest investment advice,” commented Vikas Desai, Akshaj Hotels Inc.
The exceptionally built hotel benefits from its strategic location in the high-barriers-to-entry Texas Medical Center (TMC) submarket. As the largest life-sciences destination in the world, with over 54 institutions, including 106,000 employees and thousands of volunteers and patients, the TMC receives more than 160,000 visitors each day, welcoming nearly ten million visitors over the course of the year.
“Given our client’s needs for a quick transaction and the volatility within the capital markets, we focused our efforts on a small group of capable buyers who were open to aggressive deal terms. Although the asset was presented an attractive basis, we faced headwinds with post-COVID economic uncertainty. Despite the economic environment, we successfully structured a creative deal that involved new financing from the existing lender and closed in less than two months,” said Eric Guerrero, Managing Director for HVS Brokerage & Advisory.
HVS Brokerage & Advisory team members Eric Guerrero, James Rebullida, and Fadi Rawashdeh participated in this transaction.
Media Contact:
Lizzette Casarin
Marketing Director
[email protected]
+1 (720) 244-7620
The limited-service hotel property, built in 2016, was purchased by Scenic Capital Advisors, based in Austin, Texas, from Akshaj Hotels Inc., based in Houston, Texas.
“We had a very tight timeline to get my hotel sold, and Eric’s team did a great job with their targeted marketing strategy, going only to a select group of highly qualified buyers. This is my fifth transaction sold with his team, and I highly recommend them to any owner who is looking for honest investment advice,” commented Vikas Desai, Akshaj Hotels Inc.
The exceptionally built hotel benefits from its strategic location in the high-barriers-to-entry Texas Medical Center (TMC) submarket. As the largest life-sciences destination in the world, with over 54 institutions, including 106,000 employees and thousands of volunteers and patients, the TMC receives more than 160,000 visitors each day, welcoming nearly ten million visitors over the course of the year.
“Given our client’s needs for a quick transaction and the volatility within the capital markets, we focused our efforts on a small group of capable buyers who were open to aggressive deal terms. Although the asset was presented an attractive basis, we faced headwinds with post-COVID economic uncertainty. Despite the economic environment, we successfully structured a creative deal that involved new financing from the existing lender and closed in less than two months,” said Eric Guerrero, Managing Director for HVS Brokerage & Advisory.
HVS Brokerage & Advisory team members Eric Guerrero, James Rebullida, and Fadi Rawashdeh participated in this transaction.
About HVS Brokerage & Advisory
The Brokerage & Advisory Division is a specialized group within HVS that offers investment sales and capital markets 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.Media Contact:
Lizzette Casarin
Marketing Director
[email protected]
+1 (720) 244-7620