SAN ANTONIO – October 3, 2016 – CBRE Hotels announces the sale of a 109-room Homewood Suites by Hilton at 215 Richland Hills Drive in San Antonio. Good Day Properties, LLC purchased the limited-service hotel from SAT Westlakes, LLC for an undisclosed price.
Michael Yu, Rahul Bijlani and Agrama Mannapperuma represented the seller and the buyer.
Homewood Suites by Hilton Lackland AFB/SeaWorld was built in 2013 and features spacious studio and one-bedroom suites. The extended stay hotel has diverse exposure to the business travel and leisure segments, as well as activity from the nearby Lackland Air Force Base.
“REITs and large private equity buyers have traditionally been the investor of choice for this type of quality asset. We’re now starting to see more individual buyers investing in this arena,” said Mr. Yu, Senior Vice President, CBRE Hotels.
CBRE Hotels is a specialized advisory group within CBRE providing capital markets, consulting, investment sales, research and valuation services to companies in the hotel sector. CBRE Hotels is comprised of more than 385 dedicated hospitality professionals located in 60 offices across the globe.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (in terms of 2015 revenue). The Company has more than 70,000 employees (excluding affiliates), and serves real estate investors and occupiers through more than 400 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.
