News
Crowne Plaza Hotel Sells Out of Foreclosure
Unique Hotel Management Group purchased Crowne Plaza Houston Northwest Brookhollow, a 294-room full-service hotel. HREC's Mike Armstrong and Hank Wolpert repped the seller, a special servicer that had acquired the property through foreclosure. They say the Crowne Plaza got significant investor interest—offers from domestic and international buyers—because of its strong location and tremendous repositioning activity. Unique Hotel Management Group, a regional hotel investor, is planning a multimillion-dollar renovation. (It will remain a Crowne Plaza.)
