La Quinta Inn & Suites Angleton, TX

UNDER CONTRACT

• Fee simple interest in the lender-owned and third-party managed, 57-room La Quinta Inn & Suites Angleton TX offered at a substantial discount to replacement cost
• Property being offered for sale in the February 15th auction event on Ten-X
• Available unencumbered of debt and management with significant operational upside for new ownership with hotel foreclosed in December 2020
• Ability to either retain the La Quinta flag for a new license or rebrand to an AmericInn or Baymont upon completion of the respective PIP
• Situated at the intersection of TX highway 288 and 35 with approximately 30,000 vehicles passing the location daily
• Proximate to all broader area demand including Brand/Safway, UTMB Health, Dow Chemical Company, Phillip 66, and Port Freeport
• Angleton benefits from the Houston MSA, which was the second fastest growing metropolitan area from 2010 to 2020 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
• Migration trends continue to heavily favor Texas as residents are attracted to the quality of life and as business leaders seek the pro-business environment and lesser tax burden