AUSTIN, Texas—Hunter Advisors (Hunter) introduced the sale of Embassy Suites by Hilton Austin Arboretum and Embassy Suites by Hilton Houston Close to the Galleria, two all-suites lodges in Texas. The transaction was brokered by Kami Burnette, senior vp, and Mason McDavid, vp, on behalf of the vendor, Ashford Hospitality Belief. The customer is a person investor primarily based in Texas, and the lodges have been acquired as a part of a single transaction.
“The transaction displays the continued pattern of regional traders recognizing the worth of buying institutional-quality lodges with clear upside for operational efficiencies and alternatives to reinforce worth put up renovation,” mentioned Kami Burnette, senior vp at Hunter Advisors.
Property Particulars
The Embassy Suites by Hilton Austin Arboretum is a 150-suite, six-story resort constructed in 1998 and situated simply off the MoPac Expressway. The property offers entry to main demand drivers for enterprise, analysis, and leisure, together with The Area, the J.J. Pickle Analysis Campus, Q2 Stadium, and the Area. The resort contains roughly 2,030 sq. toes of assembly area, an on-site restaurant and bar, an indoor pool, and a health heart. The all-suites format affords lodging with separate residing and sleeping areas designed to serve each company and leisure vacationers.
The Embassy Suites by Hilton Houston Close to The Galleria is a 150-suite, six-story resort in-built 1998 and situated in Houston’s Uptown district, adjoining to The Galleria. The resort advantages from proximity to main company places of work, universities, cultural points of interest, and Downtown Houston. Facilities embody roughly 1,747 sq. toes of assembly area, an on-site restaurant, an indoor pool, a health heart, an open-air atrium, and all-suite lodging.
“Executing this as a single transaction required a coordinated course of and focused method to purchaser choice,” mentioned Mason McDavid, vp at Hunter Advisors. “By advertising and marketing the portfolio as particular person gross sales with the choice to buy collectively, we have been in a position to create scale for the customer whereas maximizing execution certainty for the vendor throughout two main Texas markets.”
