HOUSTON, TX, August 26, 2024: HVS Brokerage & Advisory announces the sale of the 63-key La Quinta Inn & Suites by Wyndham Pasadena North, located at 2205 Pasadena Freeway, Pasadena, Texas 77506.
The property, built in 2010, was purchased by Satguru Investments based in La Porte, Texas, from 225 Pasadena Hospitality, based in Houston, Texas.
Andrew Lai, Owner of 225 Pasadena Hospitality, commented, “I truly appreciate the time and effort the entire HVS team dedicated to navigating a challenging seller's market, ultimately ensuring the deal was successfully closed.”
The property benefits from its strategic location along Pasadena Freeway within the second-largest city in Houston’s metropolitan area. Pasadena’s economy is anchored by the exploration and refining of petroleum and gas, petrochemical processing, solar-panel manufacturing, maritime shipping, and healthcare. The property is near a multitude of corporate demand generators including Kinder Morgan, Marathon Petroleum, Philips 66, Calpine Corporation, Chevron Phillips, DOW Chemical Company, Frontier Logistics, BASF Pasadena, and Avient Corporation. New developments in Pasadena are bringing growth and demand to the area, such as Kao Corporation’s $250-million amine production plant, Ethox Chemicals’ 17-acre chemical plant, and the $50-million renovation for the Pasadena Arena & Convention Center.
“The seller is a valued client, and we are happy to complete another sale on behalf of their family. By conducting a traditional public marketing campaign, we procured multiple offers, mostly from out-of-state buyers, and created a competitive environment to maximize proceeds. Despite a tight lending environment and high interest rates, we secured a qualified local buyer that provided a term sheet before signing the purchase and sale agreement,” said James Rebullida, Vice President of HVS Brokerage & Advisory.
HVS Brokerage & Advisory team members Eric Guerrero, James Rebullida, Fadi Rawashdeh, & Kyle Peterek participated in this transaction.
Media Contact:
Lizzette Casarin
Senior Marketing Director
[email protected]
+1 (720) 244-7620
The property, built in 2010, was purchased by Satguru Investments based in La Porte, Texas, from 225 Pasadena Hospitality, based in Houston, Texas.
Andrew Lai, Owner of 225 Pasadena Hospitality, commented, “I truly appreciate the time and effort the entire HVS team dedicated to navigating a challenging seller's market, ultimately ensuring the deal was successfully closed.”
The property benefits from its strategic location along Pasadena Freeway within the second-largest city in Houston’s metropolitan area. Pasadena’s economy is anchored by the exploration and refining of petroleum and gas, petrochemical processing, solar-panel manufacturing, maritime shipping, and healthcare. The property is near a multitude of corporate demand generators including Kinder Morgan, Marathon Petroleum, Philips 66, Calpine Corporation, Chevron Phillips, DOW Chemical Company, Frontier Logistics, BASF Pasadena, and Avient Corporation. New developments in Pasadena are bringing growth and demand to the area, such as Kao Corporation’s $250-million amine production plant, Ethox Chemicals’ 17-acre chemical plant, and the $50-million renovation for the Pasadena Arena & Convention Center.
“The seller is a valued client, and we are happy to complete another sale on behalf of their family. By conducting a traditional public marketing campaign, we procured multiple offers, mostly from out-of-state buyers, and created a competitive environment to maximize proceeds. Despite a tight lending environment and high interest rates, we secured a qualified local buyer that provided a term sheet before signing the purchase and sale agreement,” said James Rebullida, Vice President of HVS Brokerage & Advisory.
HVS Brokerage & Advisory team members Eric Guerrero, James Rebullida, Fadi Rawashdeh, & Kyle Peterek participated in this transaction.
About HVS Brokerage & Advisory
The Brokerage & Advisory division is a specialized group within HVS that offers services related to investment sales and capital markets, focused exclusively on the hospitality industry. With a global footprint and over 40 offices nationwide, HVS’s hospitality intelligence and extensive expertise will help you achieve the results you want.Media Contact:
Lizzette Casarin
Senior Marketing Director
[email protected]
+1 (720) 244-7620