HOUSTON, TX, October 9, 2023: HVS Brokerage & Advisory announces the sale of the 73-key Hampton Inn & Suites by Hilton Houston – Cypress Station, located at 150 Wagon Point, Houston, Texas 77090.
The property, built in 2000, was purchased by Door Capital Partners, based in Austin, Texas, from Level X Group, based in Houston, Texas.
Mr. TJ Patel, Partner of Level X Group, commented, “We are very pleased with the HVS team in getting our hotel sold. Everyone on the team was thorough and went above and beyond to keep us updated on their efforts throughout the sale process. Their creative marketing strategy helped us secure a strong Texas-based buyer that closed without any renegotiations.”
The property benefits from its strategic location along the Interstate 45 Frontage Road and Farm-to-Market (FM) 1960 Road, near multiple demand generators in the area, including the growing City Place mixed-use development, ExxonMobil Headquarters, Hewlett-Packard (HP), Baker Hughes, and Halliburton. Additionally, the property is located just ten miles northwest of George Bush Intercontinental Airport, which is convenient for both business and leisure travelers.
“This was a seamless deal that involved two valued HVS clients on each side of the transaction. Given the high pricing of capital market debt, seller financing was part of our marketing strategy to drive buyer activity. The results were strong, and we secured multiple offers through a competitive call-for-offers process. Door Capital was selected due to its extensive experience of closing deals, and we are excited to see what the company does with the asset,” said Eric Guerrero, Senior 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
Senior Marketing Director
[email protected]
+1 (720) 244-7620
The property, built in 2000, was purchased by Door Capital Partners, based in Austin, Texas, from Level X Group, based in Houston, Texas.
Mr. TJ Patel, Partner of Level X Group, commented, “We are very pleased with the HVS team in getting our hotel sold. Everyone on the team was thorough and went above and beyond to keep us updated on their efforts throughout the sale process. Their creative marketing strategy helped us secure a strong Texas-based buyer that closed without any renegotiations.”
The property benefits from its strategic location along the Interstate 45 Frontage Road and Farm-to-Market (FM) 1960 Road, near multiple demand generators in the area, including the growing City Place mixed-use development, ExxonMobil Headquarters, Hewlett-Packard (HP), Baker Hughes, and Halliburton. Additionally, the property is located just ten miles northwest of George Bush Intercontinental Airport, which is convenient for both business and leisure travelers.
“This was a seamless deal that involved two valued HVS clients on each side of the transaction. Given the high pricing of capital market debt, seller financing was part of our marketing strategy to drive buyer activity. The results were strong, and we secured multiple offers through a competitive call-for-offers process. Door Capital was selected due to its extensive experience of closing deals, and we are excited to see what the company does with the asset,” said Eric Guerrero, Senior 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
Senior Marketing Director
[email protected]
+1 (720) 244-7620