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FOR IMMEDIATE RELEASE
Colliers International represented Buyer of Texas Medical Center area property
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HOSPITALITY/RETAIL.
December 17, 2015, Houston - Colliers International notes that Medical Center Fannin OST Investments, LP recently acquired 7329 Fannin & 1803 Old Spanish Trail, Houston, Harris County, Texas 77030 consisting of about 1.3 acres of land wrapping that corner. Tom Condon, Jr. with The Woodlands office of Colliers International Houston, Inc. represented the Buyer in the transaction and Louis Smith with SRC Properties represented the Seller, Dixon Financial Services, Ltd. The Closing was coordinated by Kathleen Martin with Platinum Title Partners, LP and financing was provided by Claude Leatherwood with Independent Bank.
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The Property is to be redeveloped into two (2) nationally branded hotels totaling 325 keys, along with a restaurant on the ground floor and parking on the upper levels.
The Project will be developed by James O. Guillory, Jr., President of HarDam Hotels, LLC. Groundbreaking will begin in late 2016, and construction completion is expected by mid 2018.
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ABOUT COLLIERS INTERNATIONAL GROUP INC.
Colliers International Group Inc. (NASDAQ: CIGI; TSX: CIG) is a global leader in commercial real estate services with more than 16,300 professionals operating from 502 offices in 67 countries. With an enterprising culture and significant insider ownership, Colliers professionals provide a full range of services to real estate occupiers, owners and investors worldwide. Services include brokerage, global corporate solutions, investment sales and capital markets, project management and workplace solutions, property and asset management, consulting, valuation and appraisal services, and customized research and thought leadership. Colliers International has been ranked among the top 100 outsourcing firms by the International Association of Outsourcing Professionals' Global Outsourcing for 10 consecutive years, more than any other real estate services firm.
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For further information please contact:
Tom Condon, Jr., Senior Vice President | The Woodlands,
Colliers International
Tel: 713 830 4007
Email: tom.condon.jr@colliers.com
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