{"id":1004168352,"date":"2017-03-07T04:52:21","date_gmt":"2017-03-07T12:52:21","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004168352"},"modified":"2022-12-08T19:46:50","modified_gmt":"2022-12-09T03:46:50","slug":"cbre-arranges-sale-of-texas-city-hotel","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/cbre-arranges-sale-of-texas-city-hotel\/","title":{"rendered":"CBRE Arranges Sale of Texas City Hotel"},"content":{"rendered":"

By Anca Gagiuc<\/em><\/p>\n

\"Holiday<\/a>

Holiday Inn Express & Suites, Texas City, Texas<\/p><\/div>\n

Houston<\/strong>\u2014CBRE Hotels announced it has arranged the sale of Holiday Inn Express & Suites located at 2440 Gulf Freeway in Texas City, between Houston and Galveston. It\u2019s the third Houston-area Holiday Inn Express sold by CBRE Hotels in the last three months.<\/p>\n

Texas City Hospitality LLC acquired the 70-key hotel from Peet Hotels Inc. as an investment opportunity. The financial details were not disclosed. CBRE\u2019s Eric Guerrero, Michael Yu, Rahul Bijlani and Dennis Drake represented both the seller and the buyer.<\/p>\n

\u201cAs oil price starts rebounding, we are seeing more investors looking to invest in Houston to take advantage of better pricing compared to a couple of years ago,\u201d Michael Yu, senior vice president at CBRE Hotels, said\u00a0in a prepared statement.<\/p>\n

Texas City is located near Interstate 45 and is one of the nation\u2019s largest ports as well as a major hub for world energy supplies.\u00a0\u201cTexas City is a unique submarket of Houston. They did not see a decline in revenues related to low oil prices as compared to other markets. It is a refinery-based market that is uniquely positioned to get overflow from Galveston during the summer months when tourism is high. These are a few of the reasons the buyer was attracted to this opportunity,\u201d added Guerrero, vice president at CBRE Hotels.<\/p>\n

CBRE closed on three\u00a0Holiday Inn Express Hotels transactions in the Houston MSA\u00a0in the last three months, two of which were with investors from out of state.<\/p>\n

Image\u00a0courtesy of CBRE<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

The 70-room Holiday Inn Express & Suites was acquired by Texas City Hospitality from Peet Hotels.<\/p>\n","protected":false},"author":237,"featured_media":1004168356,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21751,1589,21783,21742],"tags":[],"class_list":["post-1004168352","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-hotel","category-houston","category-investment","category-latest"],"acf":[],"yoast_head":"\nCBRE Arranges Sale of Texas City Hotel - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/cbre-arranges-sale-of-texas-city-hotel\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"CBRE Arranges Sale of Texas City Hotel\" \/>\n<meta property=\"og:description\" content=\"The 70-room Holiday Inn Express & Suites was acquired by Texas City Hospitality from Peet Hotels.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/cbre-arranges-sale-of-texas-city-hotel\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2017-03-07T12:52:21+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-09T03:46:50+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/03\/Holiday-Inn-Express-Texas-City.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1000\" \/>\n\t<meta property=\"og:image:height\" content=\"667\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Anca Gagiuc\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/cbre-arranges-sale-of-texas-city-hotel\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/cbre-arranges-sale-of-texas-city-hotel\/\",\"name\":\"CBRE Arranges Sale of Texas City Hotel - 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