LAS VEGAS--(BUSINESS WIRE)--The Siegel Group Nevada, Inc., a real estate investment and management company, announced today that it had acquired the former Amerihome Inn & Suites located in Houston, Texas. This acquisition increases the number of Siegel Suites® (www.siegelsuites.com) and Siegel Select® (www.siegelselect.com) properties throughout the United States to 60 and marks the brand’s third location in the Texas market. These locations are in addition to the company’s significant presence throughout Nevada, Arizona, Louisiana, New Mexico, Tennessee, Mississippi, Alabama, South Carolina and Ohio.
The Siegel Group, which operates a sizable commercial real estate portfolio consisting of apartments, extended-stay hotels, flexible-stay apartments, hotels, retail, office, and development projects, will be operating the property as a Siegel Suites® - the company’s flagship brand of flexible-stay communities which provide fully furnished apartment-style units and allow for flexible payment options without requiring a long-term commitment. The property, which will be renamed Siegel Suites Houston, is conveniently located off Interstate 45. Built in 1983, the 3-story exterior corridor property totals approximately 110,700 square feet and is comprised of a mix of studio, one, two, and three-bedroom units which are all spacious and contain full kitchens. The Siegel Group will be making a number of improvements which include adding new flooring, cabinetry as well as upgraded furniture and appliance packages to all units. Additionally, all windows in the complex will be replaced and the exterior of the property will be painted along with other cosmetic upgrades including branding and signage that are characteristic of the brand.
Stephen Siegel, President of The Siegel Group, stated: “We are excited to add another incredible location to our Siegel Suites portfolio. Over the last few years we have been looking to establish a presence in the Houston market and when this opportunity presented itself we knew the timing was right. We plan to aggressively expand our Siegel Suites and Siegel Select brands throughout Houston in the near future.”
The Siegel Group is actively looking to acquire value-added properties in all asset classes throughout the United States and is able to move quickly and close transactions without any financing contingencies. If you have a property you would like to submit for consideration, please email properties@siegelcompanies.com.
About The Siegel Group Nevada, Inc.
The Siegel Group, a real estate investment and management company headquartered in Las Vegas, Nevada and founded by Stephen Siegel, specializes in the acquisition, disposition and development of under-performing, value-added real estate and businesses with significant turn-around potential. The company’s extensive expertise in the areas of operations, management, finance, marketing, branding, leasing, renovation, design, entitlements, construction, and redevelopment enable The Siegel Group to elicit an operational turnaround on the assets it acquires. These assets include a variety of businesses and a commercial real estate portfolio comprised of multi-residential, flexible-stay apartment complexes, extended-stay hotels, boutique resorts, hotel-casinos, retail, office, restaurants and bars. For more information on The Siegel Group and its affiliates, visit the Company’s website at www.siegelcompanies.com.
