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HVS Brokerage & Advisory announced the sale of 96 major Holiday Inn Express & Suites Houston NW – Cypress Grand Parkway IHG hotels located at 21410 Fairfield Place Drive, Cypress, Texas 77433.
Built in 2017, the property was sold through a competitive and traditional marketing process. Purchased by Houston, Texas-based Capital One Hotels from Ta Vu LLC, also based in Houston.
Tony Ta, Principal of Ta Vu LLC, commented: The HVS team helped us navigate the nuances of selling our hotel, including expediting the franchise transfer process. They found an all-cash buyer with whom he closed the deal within 45 days without renegotiation. Highly recommended for owner groups looking for an experienced hotel advisor. ”
The property benefits from a strategic location on Route 290, including Armani, Burberry, Coach, Adidas, Nike, Kate Spade New York and Tory Burch. We are also close to several wedding venues in the area, including Lindsay Lakes, Bridal Oaks Weddings & Events, and Enchanted Cypress.
“We went through a tight process generating multiple competing offers from a large number of buyers, mostly from out of state. Through a competitive offer-for-offer process, the winning buyer increased its original bid by more than $500,000, closing the deal immediately, all in cash.”
HVS Brokerage & Advisory team members Eric Guerrero, James Rebullida and Fadi Rawashdeh. And Kyle Peterlek was in on the deal.
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