HOUSTON, TX, July 28, 2020: HVS Brokerage & Advisory announces the sale of the 158-key Sheraton Houston West Hotel, located at 11191 Clay Road, Houston, Texas 77041.
The full-service property, built in 2008, was purchased by Maa Amba LLC, which is based in Kansas City, Kansas, from Integrated Capital LLC, based in Los Angeles, California.
“This was a tremendous execution by Eric Guerrero and the HVS team,” commented Kenneth Fearn, Managing Partner, Integrated Capital LLC. “We couldn’t be more pleased with their efforts. They identified an out-of-state buyer during the onset of the COVID-19 epidemic and worked with all parties to facilitate closing, despite the increasing challenges caused by the epidemic. We look forward to working with Eric and the HVS team again in the future.”
Eric Guerrero, HVS Brokerage & Advisory Managing Director, explained, “We launched our marketing process in early March and had to overcome local stay-at-home coronavirus orders and volatile financial markets. The asset itself also had obstacles related to a repositioning and large PIP. Despite this, we managed a rapid 30-day marketing process and received strong interest from buyers across the country. The selected buyer completed a two-week due diligence and closed on time. We continue to receive interest from buyers seeking to invest in hotel assets in Houston and can offer a high probability of closing for our clients using our comprehensive sales process.”
Once a full-scale renovation is completed, the buyer will reopen the hotel as a Four Points by Sheraton. The property is strategically located near the Energy Corridor, near numerous dining, retail, and entertainment options, which is advantageous for both business and transient guests.
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 full-service property, built in 2008, was purchased by Maa Amba LLC, which is based in Kansas City, Kansas, from Integrated Capital LLC, based in Los Angeles, California.
“This was a tremendous execution by Eric Guerrero and the HVS team,” commented Kenneth Fearn, Managing Partner, Integrated Capital LLC. “We couldn’t be more pleased with their efforts. They identified an out-of-state buyer during the onset of the COVID-19 epidemic and worked with all parties to facilitate closing, despite the increasing challenges caused by the epidemic. We look forward to working with Eric and the HVS team again in the future.”
Eric Guerrero, HVS Brokerage & Advisory Managing Director, explained, “We launched our marketing process in early March and had to overcome local stay-at-home coronavirus orders and volatile financial markets. The asset itself also had obstacles related to a repositioning and large PIP. Despite this, we managed a rapid 30-day marketing process and received strong interest from buyers across the country. The selected buyer completed a two-week due diligence and closed on time. We continue to receive interest from buyers seeking to invest in hotel assets in Houston and can offer a high probability of closing for our clients using our comprehensive sales process.”
Once a full-scale renovation is completed, the buyer will reopen the hotel as a Four Points by Sheraton. The property is strategically located near the Energy Corridor, near numerous dining, retail, and entertainment options, which is advantageous for both business and transient guests.
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 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. During this unprecedented time of COVID-19 disruption, we are fully functional and stand ready to assist you with any aspect of your business through this challenging time.Media Contact:
Lizzette Casarin
Marketing Director
[email protected]
+1 (720) 244-7620