October 5, 2016
Good Day Properties LLC of Missouri City, TX acquired a 109-room Homewood Suites by Hilton from SAT Westlakes LLC. CBRE’s Michael Yu, Rahul Bijlani and Agrama Mannapperuma negotiated the transaction of the property at 215 Richland Hills Dr., near Lackland Air Force Base and SeaWorld.
The price was undisclosed. The Bexar Central Appraisal District values the asset at $9.7 million. The hotel delivered in 2014.
Yu said that large private equity buyers and REITs have typically been the investor of choices for assets such as the Homewood Suites. However, the buyer in this case was a smaller, private buyer. “We’re now starting to see more individual buyers investing in this arena,” Yu said.
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