Hotels for Sale

HILTON GARDEN INN WEBSTER, TX

Address:
Webster, TX, Texas
Description:

UNDER CONTRACT

  • Non-performing loan collateralized by the fee-simple interest in the Hilton Garden Inn Houston / Clear Lake NASA
  • The $11.5M non-performing loan (Note) is being offered in the September 16th auction event with Ten-X
  • The Note was originated in November 2014 with a ten-year term, 30-year amortization, and an interest rate of 4.42% where the balance is approximately $10.4MM as of June 30, 2020
  • The Note was transferred to special servicing in June 2020 and a receiver appointed in July 2020 with borrower failing to make the July debt service payment sighting COVID related disruption to the hotel operations
  • The hotel collateral consists of a four-story, 126-room, upscale select-service Hilton Garden Inn asset originally constructed in July 2012
  • Property is ideally located in southeast Houston (Webster, TX) with easy accessibly to Interstate-45 and the upwards of 171,000 vehicles passing the location daily
  • Located approximately one-mile from the 1.24MM SF Baybrook Mall retail center home to higher-end nationally recognized retail and restaurant tenants including Apple, Lululemon, Maggianos, and Cheesecake Factory - presenting guests a unique amenity offering
  • The property is situated within five miles from core area demand including 578-bed HCA Healthcare Clear Lake hospital, Ellington Field Joint Reserve Base and NASA Space Center Houston - host to +1MM visitors annually
  • Readily accessible to all broader Houston area demand including downtown Houston, Houston Hobby Airport, and NRG Stadium
  • Optimal time to be investing in Houston with the city home to nearly 7MM residents, the second highest number of Fortune 500 headquarters within the US, and a highly favorable tax climate that will incentivize economic growth and diversification in the midst of the national economic recovery
  • Houston was the second fastest growing metropolitan area from 2010-2019 with approximately 1.28MM new residents and is projected to gain another 1.24MM residents by 2029 - which will make it the fastest growing metro area in the US for two consecutive decades

Listing Agents

Kami Burnette
T | 512.831.5605
Email

Mason McDavid
T | 312.724.5960
Email

Bennett Webster
T | 312.239.0560
Email

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