HOUSTON, TX, August 1, 2023: HVS Brokerage & Advisory announces the sale of the 52-key Quality Suites North Houston, located at 150 Overland Trail, Houston, Texas 77090.
The property, built in 1998, was purchased by Om Sai Rudra, based in San Benito, Texas, from Shree Rajprabhu, based in Houston, Texas.
Nick Desai, Principal of Shree Rajprabhu, commented, “We’re so pleased we selected HVS for the sale of our hotel. James and the entire HVS team’s expertise and integrity was clear throughout the entire process. Their consistent updates and ongoing communication delivered a seamless experience, from marketing to escrow. We highly recommend them to any hospitality owner seeking an experienced advisor.”
The property benefits from its strategic location along Interstate 45 and near Farm-to-Market (FM) 1960 Road, which provides quick access for business and leisure travelers to Downtown Houston and The Woodlands area, as well as a direct route to George Bush Intercontinental Airport. The property is near many demand drivers including leisure attractions, such as Hurricane Harbor Splashtown and Willowbrook Mall, and corporate demand generators, such as HCA Houston Healthcare Northwest and ExxonMobil Headquarters.
“We acquired this listing at the beginning of the year. Since then, the market shifted significantly because of changing economic conditions, rising interest rates, and limited financing options. To ensure we were fully aligned with the seller’s goals and could successfully complete the transaction, we verified the prospective investors’ qualifications before property tours and confirmed their ability to secure financing. HVS’s thorough marketing campaign yielded multiple offers and ultimately led to the successful closing with a regional investor looking to expand its portfolio into the Houston area,” said James Rebullida, Vice President of HVS Brokerage & Advisory.
HVS Brokerage & Advisory team members James Rebullida, Eric Guerrero, 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 1998, was purchased by Om Sai Rudra, based in San Benito, Texas, from Shree Rajprabhu, based in Houston, Texas.
Nick Desai, Principal of Shree Rajprabhu, commented, “We’re so pleased we selected HVS for the sale of our hotel. James and the entire HVS team’s expertise and integrity was clear throughout the entire process. Their consistent updates and ongoing communication delivered a seamless experience, from marketing to escrow. We highly recommend them to any hospitality owner seeking an experienced advisor.”
The property benefits from its strategic location along Interstate 45 and near Farm-to-Market (FM) 1960 Road, which provides quick access for business and leisure travelers to Downtown Houston and The Woodlands area, as well as a direct route to George Bush Intercontinental Airport. The property is near many demand drivers including leisure attractions, such as Hurricane Harbor Splashtown and Willowbrook Mall, and corporate demand generators, such as HCA Houston Healthcare Northwest and ExxonMobil Headquarters.
“We acquired this listing at the beginning of the year. Since then, the market shifted significantly because of changing economic conditions, rising interest rates, and limited financing options. To ensure we were fully aligned with the seller’s goals and could successfully complete the transaction, we verified the prospective investors’ qualifications before property tours and confirmed their ability to secure financing. HVS’s thorough marketing campaign yielded multiple offers and ultimately led to the successful closing with a regional investor looking to expand its portfolio into the Houston area,” said James Rebullida, Vice President of HVS Brokerage & Advisory.
HVS Brokerage & Advisory team members James Rebullida, Eric Guerrero, 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