Hampton Inn & Suites By Hilton Houston North IAH Airport Bought

HVS Brokerage & Advisory introduced the sale of the 82-key Hampton Inn & Suites by Hilton Houston North IAH Airport, positioned at 707 North Sam Houston Parkway East, Houston, Texas 77060.
 
The property, in-built 2015, was bought by RVS Hospitality Group LLC, primarily based in Newark, Delaware, from XE Hospitality, primarily based in Houston, Texas.
 
Amir Ali Zindani, Principal of XE Hospitality, commented, “We’re grateful for the HVS workforce’s efforts in promoting our lodge. We didn’t obtain many affords by way of conventional advertising and marketing strategies because of the total softness of the Houston market. The HVS workforce advised a web based public sale by way of Ten-X, which led to a aggressive course of and secured a purchaser with 10% non-refundable earnest cash, closing forward of schedule.”
 
The property advantages from its strategic location between Interstate 45 and the Hardy Toll Highway, a handy three miles from the George Bush Intercontinental Airport (IAH), close to a large number of company and leisure demand drivers together with Haliburton, Baker Hughes, Crane Worldwide Logistics Headquarters, Houston Aquarium & Animal Journey, Deerbrook Mall, The Woodlands Mall, Hurricane Harbor Splashtown Waterpark, Rockstar Vitality Bike Park, and Sam Houston Race Park.
 
“We performed a extremely aggressive public sale course of, attracting over 200 confidentiality agreements and greater than 15 permitted bidders. The public sale noticed strong bidding exercise, and the property offered at 117% of the reserve value to an out-of-state, first-time lodge investor. It was a pleasure collaborating with Ten-X to efficiently promote this lodge,” stated James Rebullida, Vice President of HVS Brokerage & Advisory.
 
HVS Brokerage & Advisory workforce members Eric Guerrero, James Rebullida, Fadi Rawashdeh, & Kyle Peterek participated on this transaction.