{"id":1004190920,"date":"2017-09-20T05:48:25","date_gmt":"2017-09-20T13:48:25","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004190920"},"modified":"2022-12-04T23:12:53","modified_gmt":"2022-12-05T07:12:53","slug":"foreign-investor-gets-hospitable-in-houston-via-cbre","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/foreign-investor-gets-hospitable-in-houston-via-cbre\/","title":{"rendered":"Foreign Investor Gets Hospitable in Houston via CBRE"},"content":{"rendered":"<p>By Anca Gagiuc<\/p>\n<div id=\"attachment_1004190992\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/09\/Holiday-Inn-Express-Suites-Baytown.jpg\" target=\"_blank\" rel=\"noopener noreferrer\"><img decoding=\"async\" aria-describedby=\"caption-attachment-1004190992\" data-attachment-id=\"1004190992\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/foreign-investor-gets-hospitable-in-houston-via-cbre\/holiday-inn-express-suites-baytown-800x620\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/09\/Holiday-Inn-Express-Suites-Baytown-800x620.jpg\" data-orig-size=\"800,620\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;1&quot;}\" data-image-title=\"Holiday Inn Express &#038; Suites Baytown 800&#215;620\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;Holiday Inn Express &#038; Suites Baytown, Texas&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/09\/Holiday-Inn-Express-Suites-Baytown-800x620.jpg?w=800\" loading=\"lazy\" class=\"wp-image-1004190992 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/09\/Holiday-Inn-Express-Suites-Baytown.jpg\" alt=\"Holiday Inn Express &amp; Suites Baytown, Texas\" width=\"300\" height=\"233\" \/><\/a><p id=\"caption-attachment-1004190992\" class=\"wp-caption-text\">Holiday Inn Express &amp; Suites Baytown, Texas<\/p><\/div>\n<p>CBRE Hotels arranged the sale of the Holiday Inn Express &amp; Suites Houston East in Baytown, Texas. Houston-based Pride Management Inc., sold the asset to Canadian investment group Prime Developments, marking the buyer\u2019s second hotel acquisition in the Houston area.<\/p>\n<p>The Holiday Inn Express &amp; Suites Baytown is located at 7515 Garth Road, off Interstate 10 and Garth Road, just north of San Jacinto Mall. The <a href=\"https:\/\/www.commercialsearch.com\/news\/cbre-arranges-sale-of-texas-city-hotel\/\">Holiday Inn hotel<\/a> is serving one of Houston\u2019s top business locations, with Exxon, Chevron, Bayer, Amoco and the Houston Ship Channel nearby. Guests at the property have access to free wireless internet access, an outdoor swimming pool, a fitness center and a business center.<\/p>\n<p>CBRE Hotels\u2019 Michael Yu, Rahoul Bijlani and Eric Guerrero arranged the transaction on behalf of the buyer and the seller.<\/p>\n<h2>Challenging environment<\/h2>\n<p><em>\u201cWe are excited to add another hotel asset to our Houston MSA portfolio,\u201d<\/em> Moiz Bhamani, CEO, Prime Developments, said in prepared remarks. <em>\u201cWe remain positive for the overall market and continue to work actively with CBRE Hotels in assisting Prime to find more value-add hotels.\u201d<\/em><\/p>\n<p>Despite a tight Houston-area\u00a0hotel market and challenging sales environment, said Yu, this year his team has been able to close six sales\u2014including this most recent one\u2014in the metro.<\/p>\n<p><em>Image courtesy of CBRE Hotels<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Canadian investment group Prime Developments closed its second value-add hotel acquisition in the Houston area, with the purchase of Holiday Inn Express &amp; Suites Houston East in Baytown, Texas. <\/p>\n","protected":false},"author":237,"featured_media":1004190992,"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":[32789,37614,37615],"class_list":["post-1004190920","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-hotel","category-houston","category-investment","category-latest","tag-cbre","tag-pride-management-incorporated","tag-prime-developments"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - 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