NBA Player's Fund Acquires Houston-Area Hilton Hotel

Law360, New York (November 15, 2011, 5:50 PM EST) -- A real estate investment fund co-founded by a former NBA player said Tuesday that it had made its first foray into the hotel sector with the purchase of a preferred equity interest in a Houston-area Hilton Worldwide Inc. hotel for an undisclosed sum.

Admiral Capital Group's Admiral Capital Real Estate Fund LP will acquire the preferred equity interest in the Hilton Garden Inn Houston Energy Corridor, a 190-room select service hotel that caters to oil and gas industry clients. The hotel, which opened in 2008, will...
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