HVS Brokerage & Advisory publicizes the sale of the 63-key La Quinta Inn & Suites by Wyndham Pasadena North, situated at 2205 Pasadena Freeway, Pasadena, Texas 77506.
The property, in-built 2010, was bought by Satguru Investments primarily based in La Porte, Texas, from 225 Pasadena Hospitality, primarily based in Houston, Texas.
Andrew Lai, Proprietor of 225 Pasadena Hospitality, commented, “I really recognize the effort and time your complete HVS crew devoted to navigating a difficult vendor’s market, finally guaranteeing the deal was efficiently closed.”
The property advantages from its strategic location alongside Pasadena Freeway inside the second-largest metropolis in Houston’s metropolitan space. Pasadena’s financial system is anchored by the exploration and refining of petroleum and gasoline, petrochemical processing, solar-panel manufacturing, maritime transport, and healthcare. The property is close to a mess of company demand mills together with Kinder Morgan, Marathon Petroleum, Philips 66, Calpine Company, Chevron Phillips, DOW Chemical Firm, Frontier Logistics, BASF Pasadena, and Avient Company. New developments in Pasadena are bringing progress and demand to the world, reminiscent of Kao Company’s $250-million amine manufacturing plant, Ethox Chemical compounds’ 17-acre chemical plant, and the $50-million renovation for the Pasadena Area & Conference Heart.
“The vendor is a valued shopper, and we’re blissful to finish one other sale on behalf of their household. By conducting a standard public advertising marketing campaign, we procured a number of presents, principally from out-of-state consumers, and created a aggressive setting to maximise proceeds. Regardless of a decent lending setting and excessive rates of interest, we secured a professional native purchaser that supplied a time period sheet earlier than signing the acquisition and sale settlement,” stated James Rebullida, Vice President of HVS Brokerage & Advisory.
HVS Brokerage & Advisory crew members Eric Guerrero, James Rebullida, Fadi Rawashdeh, & Kyle Peterek participated on this transaction.
