CBRE Facilitates Sale of Houston-Area Hotel
ByCBRE Hotels arranged the sale of Holiday Inn Express & Suites, a 74-key, limited-service hotel in Bay City, Texas. Houston-based SNI 5618 Investment LP acquired the asset from San Antonio-based Baywood Hotels for an undisclosed price. The transaction marks the first hotel acquisition for the buyer, which owns several apartment properties in the Houston area.
Located at 5618 7th St., on Highway 35, the hotel is three miles from both Matagorda County Museum and downtown Bay City. The Matagorda Bay, Matagorda Beach and Matagorda Nature Park are all within driving distance from the hotel. Featuring simple decor and furnishings, all keys include free Wi-Fi, flat-screen TVs and desks. Suites add living areas with pull-out sofas, as well as microwaves, mini-fridges and wet bars. Other amenities include an outdoor pool with a sundeck, an exercise room and a 24-hour convenience store…
