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HFF closes sale of Hampton Inn & Suites Austin Airport Hotel in Austin, Texas

12/22/2016

DALLAS, TX – December 22, 2016 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has closed the sale of the Hampton Inn & Suites Austin Airport Hotel, a 102-room, select-service hotel adjacent to Austin-Bergstrom International Airport in Austin, Texas.

HFF marketed the property on behalf of the seller, Pendo Investments.  InLight Capital, LLC purchased the asset and will self-manage the hotel.

Hampton Inn & Suites Austin Airport Hotel is situated on 2.67 acres at 7712 East Riverside Drive in southeast Austin near both Austin-Bergstrom International Airport and the Circuit of The Americas, a domestic and international attraction for the annual Formula One U.S. Grand Prix and multiple music concerts throughout the year.  The hotel’s proximity to State Highway 71, U.S 183 and Interstate 35 provides access to downtown Austin, which is less than six miles from the property, in addition to the greater Austin area.  Completed in 2001, the Hampton Inn & Suites Austin Airport Hotel underwent extensive renovations in 2015.  The hotel’s 102 rooms include 18 suites, and the hotel features an outdoor pool, 440 square feet of meeting space, 24-hour fitness center, 24-hour business center and complimentary hot breakfast. 

The HFF investment sales team representing the seller was led by senior managing director and head of HFF’s hotel group Dan Peek, managing director John Bourret and associate director Austin Brooks.

About Pendo Investments
Pendo Investments is a vertically integrated real estate investment company and fund manager that seeks to provide superior risk adjusted returns in value add and core plus investments throughout the West and Southwest United States. The principals of Pendo are proven fiduciaries with a successful $4 billion track record and discretionary equity immediately available for investment.  Learn more at pendoinvestments.com.

About InLight Capital, LLC
InLight Capital, LLC is a privately funded hospitality investment and management company based in Sugar Land, Texas.  InLight focuses on the acquisition and operation of upper-midscale, limited and select service properties within the Hilton, Marriott, and IHG brand families.  Their current portfolio consists of 6 hotels with a total of 619 guestrooms located in Texas, Louisiana and Tennessee.  InLight is actively expanding their portfolio and anticipate more acquisitions in the foreseeable future.

About HFF
HFF and HFFS (HFF Securities L.P.) are owned by HFF, Inc. (NYSE: HF).  HFF operates out of 23 offices nationwide and is a leading provider of commercial real estate and capital markets services to the U.S. commercial real estate industry. HFF together with its affiliate HFFS offer clients a fully integrated national capital markets platform including debt placement, investment sales, equity placement, advisory services, loan sales and commercial loan servicing.  For more information please visit hfflp.com or follow HFF on Twitter @HFF.

 

Holliday Fenoglio Fowler, L.P. acting by and through Holliday GP Corp, a Texas licensed real estate broker.   

Source

HFF

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