CBRE has arranged the sale of the Holiday Inn Express & Suites Missouri City West at 5007 State Highway 6 in Missouri City, Texas. Illinois-based Yeluh, LLC purchased the 84-room asset from MC Hotels, LLC.
CBRE’s Michael Yu, Rahul Bijlani, Agrama Mannapperuma managed the transaction, this is the seventh Houston area hotel sold in 2018 by the CBRE South Central Hotel Team and the 23rd hotel sold in Texas.
“We are glad to have contributed to the rapid growth of Southwest Houston by building the Holiday Inn Express Missouri City. We engaged Michael, Rahul and Agrama at CBRE Hotels because they are the best in Texas - they gave us great advice and support in selling the asset in a timely manner, so that we can pursue development projects in other markets,” said Nupen Patel with MC Hotels. “Hotels in this area are performing well, and investors like the Holiday Inn Express brand.”
Holiday Inn Express is one of InterContinental Hotels Group’s fastest growing hotel brands. The locations cater to the rise in value-oriented travelers, the brand offers competitive rates, modern facilities, and dependable services.
CBRE Vice President Michael Yu added, “This was a forward sale where the hotel went under contract before construction was completed in August. We are going to see more of this type of transaction as developers choose to place new assets on the market early and cycle their gains into new developments. Meanwhile, investors, like the new owners of the Holiday Inn Express Missouri City, continue to see gains by infusing capital into brand new assets in the Houston area.”
Missouri City is located in Fort Bend County, one of the fastest growing counties in the nation. The city council recently voted to move forward with a significant new economic development plan to promote the redevelopment of existing commercial centers and recruit new businesses.
CBRE’s Michael Yu, Rahul Bijlani, Agrama Mannapperuma managed the transaction, this is the seventh Houston area hotel sold in 2018 by the CBRE South Central Hotel Team and the 23rd hotel sold in Texas.
“We are glad to have contributed to the rapid growth of Southwest Houston by building the Holiday Inn Express Missouri City. We engaged Michael, Rahul and Agrama at CBRE Hotels because they are the best in Texas - they gave us great advice and support in selling the asset in a timely manner, so that we can pursue development projects in other markets,” said Nupen Patel with MC Hotels. “Hotels in this area are performing well, and investors like the Holiday Inn Express brand.”
Holiday Inn Express is one of InterContinental Hotels Group’s fastest growing hotel brands. The locations cater to the rise in value-oriented travelers, the brand offers competitive rates, modern facilities, and dependable services.
CBRE Vice President Michael Yu added, “This was a forward sale where the hotel went under contract before construction was completed in August. We are going to see more of this type of transaction as developers choose to place new assets on the market early and cycle their gains into new developments. Meanwhile, investors, like the new owners of the Holiday Inn Express Missouri City, continue to see gains by infusing capital into brand new assets in the Houston area.”
Missouri City is located in Fort Bend County, one of the fastest growing counties in the nation. The city council recently voted to move forward with a significant new economic development plan to promote the redevelopment of existing commercial centers and recruit new businesses.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2018 revenue). The company has more than 90,000 employees (excluding affiliates), and serves real estate investors and occupiers through approximately 480 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2018 revenue). The company has more than 90,000 employees (excluding affiliates), and serves real estate investors and occupiers through approximately 480 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.
