ROSENBERG, Texas — (Realty News Report) – Imeri Enterprise, an Illinois-based company, has acquired the 56-room La Quinta Inn & Suites Rosenberg, located at 28332 Southwest Freeway. The seller was Houston-based Gayatri International LLC.
“Buyers from across the country are increasingly attracted to Texas because of its strong, growing economy,” said Dennis Drake, Vice President at CBRE.
The sale was coordinated by the CBRE South Central Hotel Team, including Michael Yu, Rahul Bijlani, Tyler Bean, Dennis Drake and Manasvini Sridhar.
“Our team performed extensive market research before taking this asset to market and found that, even though TxDOT is still completing Interstate 69, investors place value on properties inside the Houston MSA and along what will become a major interstate corridor, similar to I‑10,” added Tyler Bean, CBRE Vice President. “Fort Bend County’s population and business growth show no signs of slowing down.”
“The hotel was sold to an out-of-state buyer as part of a 1031 exchange. The buyer secured an SBA loan through CBRE’s Debt and Structured Finance group with an 86% loan-to-value ratio, including PIP funds,” said Manasvini Sridhar, CBRE Vice President in Debt and Structured Finance.
“It was a pleasure working with the CBRE hotel team on this transaction. They helped me maximize value and executed the deal efficiently,” said Isen Imeri of Imeri Enterprise.
March 5, 2019 Realty News Report Copyright 2019
