HOUSTON, TX, April 12, 2023: HVS Brokerage & Advisory announces the sale of the lender-owned (REO), 111-key, former Quality Inn & Suites Houston – Sugar Land, located at 14444 Southwest Freeway, Sugar Land, Texas 77478.
The property, built in 1995, was purchased by Shree Property Investments LLC, based in Houston, Texas, from b1 Bank, based in Baton Rouge, Louisiana.
The former REO asset benefits from a favorable location along Interstate 69 in Stafford, situated between Houston and Sugar Land. Stafford has over 15 business parks, housing a large concentration of engineering firms, oil and gas-related companies, and manufacturers. At the time of sale, the hotel had over 40 rooms out of order and needed a full-scale renovation to bring it back to operating condition; additionally, it had lost its Choice Hotels franchise affiliation.
“This was the quickest deal cycle that we have completed, going from a signed listing engagement agreement to the closing of the transaction in 23 days; b1 Bank needed a speedy closing, and our team is nimble enough to make that happen. We completed multiple property tours and secured five written all-cash offers within 48 hours of getting the listing signed. The selected buyer put up the entire purchase price as earnest money and closed quickly. We believe we are the best in the business at providing our clients with speed and certainty of closing,” said Eric Guerrero, Senior Managing Director, 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
Senior Marketing Director
[email protected]
+1 (720) 244-7620
The property, built in 1995, was purchased by Shree Property Investments LLC, based in Houston, Texas, from b1 Bank, based in Baton Rouge, Louisiana.
The former REO asset benefits from a favorable location along Interstate 69 in Stafford, situated between Houston and Sugar Land. Stafford has over 15 business parks, housing a large concentration of engineering firms, oil and gas-related companies, and manufacturers. At the time of sale, the hotel had over 40 rooms out of order and needed a full-scale renovation to bring it back to operating condition; additionally, it had lost its Choice Hotels franchise affiliation.
“This was the quickest deal cycle that we have completed, going from a signed listing engagement agreement to the closing of the transaction in 23 days; b1 Bank needed a speedy closing, and our team is nimble enough to make that happen. We completed multiple property tours and secured five written all-cash offers within 48 hours of getting the listing signed. The selected buyer put up the entire purchase price as earnest money and closed quickly. We believe we are the best in the business at providing our clients with speed and certainty of closing,” said Eric Guerrero, Senior Managing Director, 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
Senior Marketing Director
[email protected]
+1 (720) 244-7620