Northshore TownePlace Suites: execution of an overlooked development opportunity

After acquiring the Pavilions at Northshore and proving out its investment thesis for the area, Ojala recognized the pending shortage of suitable housing options available for employees, contractors and consultants associated with the $20 billion of industrial development occurring in the area over the next 5-10 years. The area’s existing hotel market consisted of insufficient dated product.  The lack of competitive supply combined with a relatively high barrier to entry market created the right dynamics for Ojala to embark on the development of the only extended-stay hotel in the area.

Ojala sourced potential hotel brands, assembled a seasoned hospitality execution team, raised the capital for the project and completed construction of the project on-time and significantly under budget.

Transaction Background
Ojala TPS Investors, LP
121 room Marriott TownePlace Suites extended-stay hotel development
Overlooked development opportunity
Portland, Texas
Investment Date:
May 2014
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