Capital of driftwood, a vertically integrated commercial real estate investment, development and lending platform specializing in hospitality, announces the acquisition of Hotel IndigoÂ® Houston at the Galleria, a 131-key hotel located in the Uptown submarket of Houston.
This is the fourth hotel property that Driftwood Capital has added to its growing portfolio in the past 12 months. Earlier this year, the company acquired the 316-room Hyatt Regency Fairfax in Virginia, and the company also acquired the 248-key Hilton Southlake in Dallas and the 399-key Sheraton Pittsburgh Hotel at Station Square in Pittsburgh, Pennsylvania in 2020 All properties are managed by Driftwood Capital’s affiliate, Driftwood Hospitality Management (DHM), a national hotel operator with over 20 years of expertise.
âThe hotel is well located in one of the largest business districts in the country and close to the Galleria Mall, the largest shopping center in Texas, offering multiple drivers of demand for a hotel asset that meets the needs of this cosmopolitan neighborhood. â said Carlos J. Rodriguez Sr., CEO of Driftwood Capital. âWith over 23 million square feet of office space and tenants nearby, including General Electric, BBVA Compass and Marathon Oil, the tourism and business sectors focused in this area will allow us to realize investment gains. considerable while providing a newly branded and modern hotel to the community. “
Built in 2001 and renovated in 2009, the Indigo Hotel is located at 5160 Hidalgo Street. The hotel has over 3,000 square feet of meeting space, four meeting rooms, a fitness center, and an on-site restaurant known as Crossroads Bar & Bistro. Located in the Uptown submarket, the property is close to a variety of shops and restaurants, including the Galleria Mall and Uptown Park, an open-air mall with specialty shops and restaurants. Nearby transit routes include Interstate 610 and Interstate 69, providing direct access to downtown Houston and the entire greater metropolitan area.
About Driftwood Capital
Driftwood Capital is a vertically integrated commercial real estate investment, development and lending platform specializing in hospitality. Driftwood Capital executives have over 30 years of experience in transactions over $ 5 billion in hotel assets through various affiliated management and ownership entities. In 2015, Driftwood Capital executives launched a unique syndication model allowing accredited investors to access otherwise exclusive institutional quality hotels. Through this innovative syndication model, Driftwood Capital has successfully transformed $ 50 million of initial investment into over $ 1 billion in assets in 18 hotels and 5 development agreements with more than 5,100 rooms in 12 states. . All Driftwood Capital funds bene ï¬ t from the principal’s aff ï¬ liation with Driftwood Hospitality Management, which currently operates more than 70 full and limited service hotels with over 13,000 rooms in 22 states and is considered a long-standing leader in hospitality. industry and a first-rate operator. .