HOUSTON, TX, August 11, 2022: HVS Brokerage & Advisory announces the sale of the 100-key Hilton Garden Inn Beaumont, located at 3755 Interstate 10, Beaumont, Texas 77705.
The property, built in 2007, was purchased by Capital One Hotel Group, based in Spring, Texas, from Epic Hotel Group, based in Sugar Land, Texas.
Jack Chen of Epic Hotel Group, LLC commented, “This is the second transaction that the HVS team has sold for us over the past twelve months. Once we signed the listing, they worked quickly to get the property on the market and ran a competitive bidding process that found us a buyer within 30 days. I appreciate their high touch approach and commitment to getting the deal closed.”
The property benefits from its strategic location near the interchange of Interstate 10 and Walden Road, near a multitude of corporate drivers, including the expanding ExxonMobil refinery, Chevron, Motiva Enterprises, Sunoco Logistics, Huntsman, BASF, Total Petrochemicals, Valero, Port of Beaumont, Lamar University, and Ford Park. The Beaumont/Port Arthur market has an abundance of petrochemical refineries, and the industry has been experiencing a boom in growth because of the increased global demand.
“Given the strong in-place cash flow, minimal change-of-ownership PIP, and Hilton brand affiliation, we received tremendous interest from the market. With that, there were two groups that competitively bid against each other and helped us secure a purchase and sales agreement (PSA) with a significant non-refundable deposit on day one of the PSA, allowing for a quick closing. We appreciate the Chen family’s trust in us and look forward to working with them again soon,” said Eric Guerrero, Managing Director and Partner of HVS Brokerage & Advisory.
HVS Brokerage & Advisory team members Eric Guerrero, James Rebullida, Fadi Rawashdeh, and Kyle Peterek participated in this transaction.
Media Contact:
Lizzette Casarin
Marketing Director
[email protected]
+1 (720) 244-7620
The property, built in 2007, was purchased by Capital One Hotel Group, based in Spring, Texas, from Epic Hotel Group, based in Sugar Land, Texas.
Jack Chen of Epic Hotel Group, LLC commented, “This is the second transaction that the HVS team has sold for us over the past twelve months. Once we signed the listing, they worked quickly to get the property on the market and ran a competitive bidding process that found us a buyer within 30 days. I appreciate their high touch approach and commitment to getting the deal closed.”
The property benefits from its strategic location near the interchange of Interstate 10 and Walden Road, near a multitude of corporate drivers, including the expanding ExxonMobil refinery, Chevron, Motiva Enterprises, Sunoco Logistics, Huntsman, BASF, Total Petrochemicals, Valero, Port of Beaumont, Lamar University, and Ford Park. The Beaumont/Port Arthur market has an abundance of petrochemical refineries, and the industry has been experiencing a boom in growth because of the increased global demand.
“Given the strong in-place cash flow, minimal change-of-ownership PIP, and Hilton brand affiliation, we received tremendous interest from the market. With that, there were two groups that competitively bid against each other and helped us secure a purchase and sales agreement (PSA) with a significant non-refundable deposit on day one of the PSA, allowing for a quick closing. We appreciate the Chen family’s trust in us and look forward to working with them again soon,” said Eric Guerrero, Managing Director and Partner of HVS Brokerage & Advisory.
HVS Brokerage & Advisory team members Eric Guerrero, James Rebullida, Fadi Rawashdeh, and Kyle Peterek participated in this transaction.
About HVS Brokerage & Advisory
The Brokerage & Advisory division is a specialized group within HVS that offers services related to investment sales and capital markets, 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