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TownePlace Suites By Marriott Houston Tomball
HVS Brokerage & Advisory proclaims the sale of the 89-key TownePlace Suites by Marriott Houston Tomball, situated at 9120 FM 292, Tomball, Texas 77375.
The property, inbuilt 2024, was bought by Justo LP, based mostly in Brownsville, Texas, from Mitro GP Companions LLC, based mostly in Houston, Texas.
Mitesh Patel, Principal of Mitro GP Companions, LLC, commented, “The HVS workforce has been with us every step of the way in which on this growth, from the financial feasibility examine through the starting stage to the appraisal whereas securing building financing, and finally representing us on the sale of the asset proper after we completed building. They had been environment friendly and element oriented in guiding our partnership group all through the sale, serving to to beat some hurdles that include promoting a resort that’s nonetheless beneath building. By their intensive community, they sourced a purchaser from Texas that closed the deal on time.”
The newly constructed property was accomplished in August 2024 and advantages from its strategic location close to the intersection of State Freeway 99 (Grand Parkway) and FM 2920/Waller-Tomball Street, a newly developed exit with a number of newer shops and multifamily residential developments. Tomball has turn into a key enterprise vacation spot inside Higher Houston and is house to over 1,500 companies and almost 14,000 staff. Notable native demand turbines embody the Tomball City Middle, Tomball Regional Medical Middle, Lateral Expertise Company, SLR Worldwide Company, Enhanced Vitality Companions Company, Crow Company, Baker Hughes, VEOLIA, Grimes Industrial, and Lonestar Faculty. Moreover, weekend demand is generated by a number of common wedding ceremony venues within the space, together with Boxwood Manor, Ella’s Backyard, Sandlewood Manor, and The Estates at Pecan Park.
“That is the second resort now we have not too long ago offered in Tomball, Texas. We now have seen appreciable purchaser curiosity within the Houston suburban markets given the robust working efficiency and native financial development. We went to market whereas the resort was within the closing section of building and utilized our agency’s knowledge to assist a robust pro-forma projection. We shortly secured a purchaser in lower than a month and closed shortly after opening,” stated Eric Guerrero, Senior Managing Director & Companion of HVS Brokerage & Advisory.
HVS Brokerage & Advisory workforce members Eric Guerrero, James Rebullida, Fadi Rawashdeh, and Kyle Peterek participated on this transaction.
