posted on December 06, 2011 23:37
Admiral Capital Group, the private equity firm run by NBA star David Robinson, said Tuesday it purchased preferred equity interest in its first hotel, a Hilton Garden Inn in Houston’s Energy Corridor off Interstate 10.
Admiral Capital, which is run by Robinson, a former star with the National Basketball Association's San Antonio Spurs, and his partner, Daniel Bassichis, out of San Antonio and New York City, has amounted about $100 million of real estate assets since starting up in 2007.
The 190-room Hilton Garden Inn is the company’s first hotel asset. The hotel developer, American Liberty Hospitality, will continue to own part of the property and will continue to manage the property under a franchise agreement with Hilton Worldwide.
Compass Lodging Advisors of Dallas advised Admiral Capital on the purchase. Tandy Lofland, CEO of Intergroup Realty Inc. represented the sellers.
11/15/11, Houston Business Journal