posted on November 22, 2011 22:40
Admiral Capital Real Estate Fund LP has purchased a preferred equity interest in a Hilton Garden Inn along Houston’s Energy Corridor.
This is the Admiral’s first acquisition in the hotel sector and third for the real estate fund. The 190-room hotel opened in 2008 and is located at 12245 Katy Freeway in West Houston. The property will continue to be managed and partially owned byAmerican Liberty Hospitality of Houston. The price was not disclosed.
In addition to the hotel, Admiral also owns a 120,000-square-foot office building in El Segundo, Calif., and a 205,000-square-foot office building in Austin. The company has more than $100 million of assets under management.
Admiral Capital Real Estate Fund is a limited partnership backed by Admiral Capital Group. Admiral Capital Group was founded by NBA Hall of Famer David Robinson andDaniel Bassichis, in partnership with USAA Real Estate Co. The companies are based in San Antonio.
The Hilton Garden Inn hotel is part of theHilton Worldwide reservation network. Hilton is a global hospitality company comprised of more than 3,750 hotels and timeshare properties in 85 countries. American Liberty Hospitality is a Houston-based hotel developer, owner and operator.
James Aldridge, San Antonio Business Journal, 11/15/11