Arlington, VA-based Interstate Hotels & Resorts finalized its trade of the 297-room Hilton Houston Westchase to Wheelock Street Capital. Terms of the deal were not disclosed.
In February 2007, the investment entity Capstar Westchase Partners LP sold the asset to Interstate Hotels for $50.5 million or $170,034 per key.
Delivered in 1980, Hilton Westchase is a 12-story, 220,254-square-foot hospitality property at 9999 Westheimer Road. Wheelock Street plans to renovate the structure and hired Interstate Hotels, a hotel management company, to continue to manage the hotel.
Wheelock Street is a real estate private equity firm that owns 22 hotels with approximately 4,580 rooms. Hilton Houston Westchase is company's sixth full-service hotel purchase in the last 12 months and its second in the Houston area.
No brokers were mentioned. See CoStar COMPS #2637698 for more information.