Ayrshire Corp. bought the Hilton Houston NASA Clear Lake hotel for $27 million. The 242-room hotel will be transformed into a Compass Hotel by Margaritaville with condos. Ashford Hospitality Trust was the seller. It is located across the road from the Johnson Space Center.
The Houston Business Journal reports Ayrshire will turn the top three floors of the 14-story hotel into condominiums, bringing the number of hotel rooms to 170. Plans also include renovating the lobby to make it more inviting, doubling the size of the currently 5,000-square-foot ballroom to function as a convention center, and replacing the existing outdoor pool with an extended “adult waterpark” with a lazy river and swim-up bar.
The Hilton hotel at 3000 E. NASA Parkway has been a recognizable Clear Lake landmark since it was completed in 1982.
Want a front-row seat to the strategies shaping Texas multifamily today? Join top voices from development, investment, dealmaking, and operations on August 28th at Connect Texas Multifamily—your gateway to what’s next in the market. Register now at www.ConnectTXMF2025.com | EVENT DATE: Thursday, August 28th | VENUE: The Joule, Dallas
Rental housing affordability declined in 82% of U.S. metropolitan areas between 2014 and 2023, with renters experiencing the equivalent of an average $256 annual reduction in income after accounting for changes in housing quality. That’s according to a new report released Tuesday by the Mortgage Bankers Association’s Research Institute for Housing America. The report, Housing...
Learn more
Ponderay Apartments, a 40-unit multifamily property located at 5625 15th Ave NE in Seattle’s University District, sold for $6.26 million, equating to $156,625 per unit. Built in 1963, the property totals 21,540 square feet and consists of 22 one-bedroom units and 18 studio apartments. The studios average 478 square feet, while the one-bedroom units average...
Learn more
TruAmerica Multifamily acquired Bricks at Perimeter Center for $120 million. Clark Ventures was the seller of the 446-unit, garden-style apartment community in Atlanta’s Perimeter Center submarket. Clark paid $69.5 million for the property in 2016. TruAmerica will revamp nearly all of the rooms in the complex, which was built in 2007. The company plans to incorporate...
Learn moreRe/Max Real Estate Professionals
Central CA Commercial | California
Recckio Real Estate & Development
Northgate Real Estate Group
California
California