PROJECT SIZE:
558,863 square feet
419 Rooms

TO BE ACQUIRED:
September 2007

DEVELOPMENT PLAN:

Omni Hotels and Songy Partners of Atlanta are planning a comprehensive redevelopment of a former Sheraton to transform the tower into an all-suites luxury hotel in the heart of downtown Houston near numerous high rise office buildings and just a few short blocks from the convention center. The transformed property will feature 400-plus suites, approximately 30,000 square feet of meeting space and multiple culinary venues. Also serving today's business and leisure travelers will be a complete 13,000 square foot wellness center located on the fourth floor which is also accessible through a separate, private ground floor entrance for neighboring Houstonians and nearby office workers. Redevelopment is expected to begin later this year, and the property will open for guests in 2009.

HOTEL MANAGER:
Omni Hotels 

EQUITY PARTNER:
Songy Real Estate Investment Fund II, LLC


SPL ROLE:
3rd Party Asset Manager