Sahkar Hospitality Corporation, a commercial real estate and hotel investment group based in La Mirada, California has acquired a 90 - key property in Humble, a historic, family - friendly city located in the Houston metropolitan area in the U.S. state of Texas, known for its oil boomtown history, convenient access to George Bush Intercontinental Airport (IAH), and a mix of small - town charm with big – city retail convenience, also highlighted by Jesse H. Jones Park & Nature Center, the Humble Rodeo and Deerbrook Mall.
HSV (hospitality Valuation Services) Brokerage & Advisory , a major firm in the hospitality sector has announced the sale of the 90 - key Staybridge Suites Houston - Humble Beltway 8 East to the Californian group, a property operated under the brand Staybridge Suites, an all - suite, residential - style brand owned by IGH Hotels & Resorts, British multinational hospitality company based in Windsor, Berkshire, England, U.K.
The property built in 2018, was sold by Houston – based Fresh Start Hospitality LLC. The sale followed a previous unsuccessful attempt to sell the property with another broker in 2022 amd HVS Brokerage & Advisory provided a broker opinion of value and completed the sale within the initial pricing range. The buyer retained the existing management company fo the property.
The transaction generated five competitive offers, four from West Coast buyers and one from a buyer in Dallas. The selected buyer as a 1031 - exchange investor. The buyer used an SBA loan, and the sale was completed with no changes to the contract price.
HVS Brokerage & Advisory team members Eric Guerrero, James Rebulllida, Kyle Peterek, Fadi Rawashdeh, and Daneen Godinet participated in the transaction. Aseem Tandon with Cushman & Wakefield represented the buyer.
The establishment is located at 4819 Canyon Lakes Trace Drive within the Canyon Lakes Shopping Centre, near the Wilson Road Exit of Sam Houston Tollway 8, in an area offering several dining, entertainment, and retail options, approximately 6.4 km from Generation Park, in a 4.200 acre mixed - use district featuring industrial , office, residential, and retail components, as well as parks and trails.
Local demand generators include the Golf Club of Houston, Lake Houston, Kingwood Medical Center, the Port of Houston, and George Bush Intercontinental Airport (IAH).
The area is expected to see additional demand from developments such as Eli Lilly & Company’s $5.9 - billion pharmaceutical bio - manufacturing facility, scheduled to break ground this year, and HTX Surf, a surfing destination within Generation Park projected to attract over 200.000 visitors annually once operational in 2027.
The property is an extended – stay hotel featuring 90 modern, air-conditioned studios and one-- bedroom suites providing fully equipped kitchens with a stovetop, dishwasher, microwave, and full - sized refrigerator/ freezer. Rooms also include flat - screen TVs, work desks, and seating areas.
Facilities at thr hotel include, a year - round outdoor pool, a 24/7 fullly equipped fitness centre, complimentary laundry facilities, free WiFi and pet - friendly rooms. Guests can enjoy evening social receptions and utilize the one – site barbecue grills.
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