(Read more on the debt and equitymarkets.)
HOUSTON-With a 512-key portfolio securely in its grasp, a jointventure is preparing to renovate and rehab four hotels. The assets,including the Houston Intercontinental AmeriSuites, will end upunder the new Hyatt Place flag, with the JV securing $49 million toput the plan into motion.
Working together for the first time, FFC Capital Corp. andHouston's Camden Hospitality Group assembled the portfolio in twodeals with separate sellers, one of which is from San Antonio. FredBranovan, president and COO with FFC, says renovations will beginwithin 30 days and take about seven months to complete.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
*May exclude premium content
Already have an account?
Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
