In Brief: HVS Brokerage & Advisory closed the sale of the 29-key Knights Inn Corpus Christi at North Beach to Timon Bay Hospitality LLC.
HVS Brokerage & Advisory closed the sale of the Knights Inn Corpus Christi at North Beach, located at 3615 Timon Boulevard in Corpus Christi, Texas. Timon Bay Hospitality LLC, based in Irving, Texas, purchased the 29-key property from Ranjit & Gita LLC, based in Kingsville, Texas.
The hotel, built in 1999, is located between U.S. Highway 181 and North Beach. The USS Lexington Aircraft Carrier Museum, Texas State Aquarium, Hilliard Center, Whataburger Field and Corpus Christi Museum of Science and History are in the area.
The property is about a block west of North Beach. Downtown Corpus Christi is a 10-minute drive from the hotel, while Corpus Christi International Airport is a 20-minute drive away.
The Port of Corpus Christi is near the property. Flint Hills Resources, Valero, Citgo and Occidental Petroleum are among the refineries and chemical plants near the hotel and provide business transient demand.
Andrew Frosch, managing director of HVS Brokerage & Advisory, said the marketing process connected the property with a buyer seeking to establish a presence in the Corpus Christi market. He said the marketing positioned the property’s investment potential and used relationships with hotel investors.
Frosch, Kyle Peterek, Fadi Rawashdeh and Daneen Godinet of HVS Brokerage & Advisory participated in the transaction.