CDC Houston Acquires Two Hotels & Two Office Buildings

CDC Houston, the master developer of north Houston’s City Place, has acquired four commercial assets – a majority stake in two select-service hotels and 100% stake in two Class AA office buildings – for an undisclosed price. The portfolio additions, include the Residence Inn by Marriott Houston Springwoods Village and Courtyard by Marriott Houston Springwoods Village hotels, as well as City Place 1 and City Place 2 office buildings. The hotels and office buildings were sold by groups affiliated with USAA Real Estate.

The 128-room Residence Inn by Marriott was completed in 2015 and is designed for extended-stay guests. Completed in 2016, the 125- room Courtyard by Marriott has a lobby bistro and flexible spaces, meeting and event space, fitness center and outdoor pool.

Completed in 2019, City Place 1 is a five-story structure totaling 149,500 square feet. Neighboring City Place 2 is a 10-story, 326,800-square-foot building that includes 23,700 square feet of ground floor retail space..