Paramount Lodging Advisors (PLA) has successfully executed the sale of a TownePlace Suites and four Fairfield Inn & Suites(s) located throughout the Houston MSA and Victoria, TX.
The PLA team representing the seller included Texas-based Managing Director Kami Burnette and Associate Mason McDavid, as well as Senior Managing Directors Bennett Webster and Brent Clemens. The five assets totaled ~360 rooms and were sold to individual buyers.
“In spite of the continuing COVID-related impairments, market fundamentals are improving and the midscale buyer segment is aggressively pursuing acquisitions with the assistance of SBA financing programs. Our team remains bullish on the longer-term trajectory of the Houston recovery and surrounding markets. We believe Texas will remain at the forefront of the broader national recovery,” stated Kami Burnette of Austin, TX.
