Lexington Suites Corp., an Oryx Real Estate Equities Inc.affiliate, and Wells Fargo Bank closed out the disposition with thehand-off of the 246-room Lexington Hotel Suites, positioned on 3.11acres at 16410 N. Freeway in Houston. The portfolio hit the marketin fall 2005 for $15.5 million. Sources say the sellers nettedupward of $10 million, but not more than $20 million.

"People looked at them in groups and separately, but we foundthere was a higher value achieved for our client through individualsales," explains Bert Stevens, first vice president with CB RichardEllis in Dallas. He teamed with CBRE senior associate Lisa Hankamerin Houston to dispose of the package.

Stevens says the three Texas and two Oklahoma hotels wereacquired by different investors throughout the country in directdeals. The Oklahoma properties are the 145-room Lexington HotelSuites, situated on 2.41 acres at 1200 S. Meridian Ave. in OklahomaCity and 162-room, 2.8-acre Lexington Hotel Suites at 8525 E. 41stSt. in Tulsa. The other two Texas properties are a 108-room hotelon 1.7 acres at 4150 Independence Dr. in Dallas and 114-room,1.7-acre flag at 115 Interstate 35 in Waco. Stevens tellsGlobeSt.com that the seller is "working on other business venturesright now and will use the capital from the sales to fundthose."