Search
 

Lightstone Group Grabs, Re-Flags Two Baymonts

KATY, TX-The buyer pays about $18 million for the 145-key hotels and immediately raises its flag, Extended Stay Deluxe, in the far west submarket and Sugar Land.

By Amy Wolff Sorter | Updated on October 22, 2007

KATY, TX-After undergoing nearly $2 million of renovations, two Baymont Suites Hotels, totaling 290 rooms, have exchanged hands for close to the $18-million list price. Both assets immediately were re-flagged to Extended Stay Deluxe, a division of Extended Stay America Inc.

One 145-key hotel is located at 15385 Katy Fwy. in the far west submarket and the other one is at 13420 Southwest Fwy. in Sugar Land. Lisa Hankamer, vice president with CB Richard Ellis’ office in Houston, tells GlobeSt.com that the New York City-based Lightstone Group ended up with the assets because it knows the market and had ready access to a pool of funds. Additionally, its June acquisition of Extended Stay America Inc. demonstrated “they had a flag to put on and could move quickly,” says Hankamer, who with Bert Stevens, first vice president with CB Richard Ellis’ Dallas office, represented Morning View Hotels-Atlantic Pearl Investments of Los Angeles.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2025 ALM Global, LLC. All Rights Reserved.