Partners Capital acquired a 162-key hotel near The Galleria in Houston. The Houston Business Journal reports that Partners Capital said Hilton will award a maximum 15-year licensing term as part of the sale. The Homewood Suites by Hilton Houston Galleria, built in 2006, is located at 2950 Sage Road.

Following next year’s World Cup, where Houston will host a few games, Partners Capital will launch a multimillion-dollar hotel renovation. The hotel has an 84% occupancy rate.

The project will include significant upgrades to the guest rooms, public areas and building exterior, as well as the modernization of several building systems. There are around 40 hotels in the Uptown District.

The company’s first hospitality fund launched in June 2023 and acquired the Hilton Garden Inn San Marcos in March 2024 and the Courtyard Marriott-Atlanta Buckhead a year later.

What’s next for multifamily development and expansion in Texas? Hear from major developers—including leadership from Ryan Companies, Lument, GSP, Zonda, Daniel Management Group, CSSI, PGIM, Transwestern, Regions Bank, and many more —as they share what’s driving the pipeline, strategies, overcoming delays, and setting the pace for what’s ahead at Connect Texas Multifamily. www.ConnectTXMF2025.com | EVENT DATE: Thursday, August 28^th | VENUE: The Joule, Dallas