HOUSTON, TX, December 11, 2023: HVS Brokerage & Advisory announces the sale of the 96-key Beachcomber Inn, located at 2825 61st Street, Galveston, Texas 77551.
The property, built in 1987, was purchased by Wayside Investment Group, based in Houston, Texas, from Beachcomber Inn, based in Galveston, Texas.
Steve Jensen, Managing Member of Beachcomber Inn, commented, "I am thrilled to announce the successful sale of the Beachcomber Inn, a property with cherished memories and significant value for my family. Working closely with Andrew and the HVS team made the process seamless. Andrew’s strategic insight and market knowledge, coupled with the buyer’s proven track record, reassures me that the hotel is in capable hands. The team’s professionalism, attention to detail, and constant communication were instrumental in achieving a positive outcome."
The hotel property benefits from its strategic location at the intersection of 61st Street and Seawall Boulevard, within walking distance of Galveston Beach; additionally, it is near the refineries of Texas City and numerous tourism and leisure attractions in Galveston, including the Port of Galveston Cruise Terminal, Pleasure Pier, Moody Gardens, Galveston Island Convention Center, and Schlitterbahn Galveston Island Waterpark. The property is also a key player in special events observed in the area, such as Mardi Gras and Dickens on the Strand.
“As the broker representing both the buyer and seller, I'm excited to announce the successful completion of this deal, our fourth closing in the highly desirable Galveston market. We collaborated closely with the seller to achieve his goals. Our national marketing strategy attracted significant attention to this established asset. We secured a highly qualified buyer, facilitating the expansion of the company’s portfolio. This transaction exemplifies our commitment to delivering results and creating value for all parties involved,” said Andrew Frosch, Senior Vice President of HVS Brokerage & Advisory.
HVS Brokerage & Advisory team members Andrew Frosch, Joseph Manuel, Kyle Peterek, and Fadi Rawashdeh participated in this transaction.
Media Contact:
Lizzette Casarin
Senior Marketing Director
[email protected]
+1 (720) 244-7620
The property, built in 1987, was purchased by Wayside Investment Group, based in Houston, Texas, from Beachcomber Inn, based in Galveston, Texas.
Steve Jensen, Managing Member of Beachcomber Inn, commented, "I am thrilled to announce the successful sale of the Beachcomber Inn, a property with cherished memories and significant value for my family. Working closely with Andrew and the HVS team made the process seamless. Andrew’s strategic insight and market knowledge, coupled with the buyer’s proven track record, reassures me that the hotel is in capable hands. The team’s professionalism, attention to detail, and constant communication were instrumental in achieving a positive outcome."
The hotel property benefits from its strategic location at the intersection of 61st Street and Seawall Boulevard, within walking distance of Galveston Beach; additionally, it is near the refineries of Texas City and numerous tourism and leisure attractions in Galveston, including the Port of Galveston Cruise Terminal, Pleasure Pier, Moody Gardens, Galveston Island Convention Center, and Schlitterbahn Galveston Island Waterpark. The property is also a key player in special events observed in the area, such as Mardi Gras and Dickens on the Strand.
“As the broker representing both the buyer and seller, I'm excited to announce the successful completion of this deal, our fourth closing in the highly desirable Galveston market. We collaborated closely with the seller to achieve his goals. Our national marketing strategy attracted significant attention to this established asset. We secured a highly qualified buyer, facilitating the expansion of the company’s portfolio. This transaction exemplifies our commitment to delivering results and creating value for all parties involved,” said Andrew Frosch, Senior Vice President of HVS Brokerage & Advisory.
HVS Brokerage & Advisory team members Andrew Frosch, Joseph Manuel, Kyle Peterek, and Fadi Rawashdeh 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