Banyan Investment Group has acquired and will operate the 110-room Courtyard by Marriott Houston Pearland in Texas.
Create: Aug 10, 2019 Edit: Aug 21, 2019
Banyan Investment Group, a hotel investment and management company that acquires and manages select-service hotels in the United States, has acquired and will operate the 110-room Courtyard by Marriott Houston Pearland in Texas.
Located in the Pearland Town Center, the five-story hotel is 15 minutes from NRG Stadium (home of the NFL’s Houston Texans) and within 20 minutes of the Texas Medical Center, downtown Houston, and William P. Hobby International Airport.
“We continue to seek institutional quality assets, such as the Courtyard by Marriott Houston Pearland, in major markets with numerous demand generators,” said Andy Chopra, founding principal and chief investment officer, Banyan Investment Group. “The hotel benefits from its location within Pearland Town Center, a popular mixed-used development with 937,000 square feet of open space location within the South Houston marketplace that includes 140 specialty stores, 234-unit apartment complex building, and more than 50,000 square feet of office space. The hotel requires minimal capital expenditures, and we are confident the property will achieve its economic objectives with immediate cash flow.”
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