Woodbranch Investments Snags Land Holding Dual-Branded Hotels

Woodbranch Investments Corp. acquired a half-city block in downtown Houston that holds a dual-branded Hampton Inn and Homewood Suites, which opened in 2016. Joni and John Ballis sold the land at 710 Crawford to the local buyer. The hotels are separately owned by American Liberty Hospitality through a long-term ground lease.

The 14-story property opened in spring 2016, and consists of a 173-key Hampton Inn and 127-room Homewood Suites. The project had an estimated development cost of $50 million when announced in 2013.

“We were attracted to it, particularly the stellar management of the hotels, and the acquisition is consistent with our long-term strategy of owning core Houston assets,” Woodbranch indicated.

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