David Robinson’s real estate fund has made its first purchase in the Houston area with the acquisition of a Hilton Hotel.
Hearst blog sister Nancy Sarnoff of the Houston Chronicle’s “Prime Property” real estate blog reports that Robinson’s San Antonio-based Admiral Capital Real Estate Fund LP has acquired an interest in the Hilton Garden Inn at 12245 Katy Freeway. The purchase price was not disclosed.
Express-News staffer Valentino Lucio reports the property is along Interstate 10.
“We’re always looking to build long-term partnerships with like-minded people,” Christopher Nassetta, chief executive officer of Hilton Worldwide, said in a statement.
This is the group’s third acquisition and first investment in the hotel sector.
— Reported by Tim Griffin of the San Antonio Express-News Blog