HOUSTON-Lowe Enterprises Investors has acquired the Hotel Derek, a boutique hotel in the Galleria area of Houston, for a national hotel investment venture. The company formed the venture last year with an affiliate of Allstate Insurance Co. and Guardian Life Insurance Co. of America.
The 14-story, 314-room hotel is located at 2525 West Loop South and a Lowe Enterprises affiliate, Destination Hotels & Resorts, will manage the hotel. Eastdil Secured represented the seller, New York-based Warburg Pincus, while Lowe Enterprises had in-house representation. For the full story, go to Commercial Property Executive .
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