HFF Arranges $85M Refi for The Houstonian Hotel, Club & Spa
- Jun 30, 2012
Holliday Fenoglio Fowler L.P. arranged an $85 million refinancing for Houston’s premier luxury hotel and fitness facility, The Houstonian Hotel, Club & Spa. Working on behalf of owner The Redstone Cos.—a privately owned company with a focus on hospitality, real estate and private equity—HFF secured the fixed-rate loan with AXA Equitable Life Insurance Co. providing the capital through its advisor, Quadrant Real Estate Advisors.
The HFF team representing the borrower was led by managing director Matt Kafka and real estate analyst Corby Chaffin.
The Houstonian Hotel, Club & Spa, which spreads across 18.3 acres in the Galleria area, boasts 284 fully equipped, premier guest rooms. The resort, ranked 25th on the list of the World’s Best Business Hotels and 11th among top resorts by Travel+Leisure magazine in 2010, includes an award-winning health club and day spa, as well as 26 meeting spaces.
Hotel amenities include 24-hour room service, valet parking, a bar, a café and two full-service restaurants, access to the private Houstonian Club and preferred access to Redstone Golf Club, home of the Shell Houston Open PGA TOUR event.
Redstone—whose brands include The Houstonian Hotel, Club & Spa; Trellis, The Spa; Houstonian Lite-Pennzoil; Shadow Hawk Golf Club; The Houstonian Golf & Country Club; Redstone Golf Club; and BlackHorse Golf Club—bought The Houstonian out of bankruptcy in 1992 and has invested capital and resources to reposition the property to its current state. Capital improvements included a reconfiguration of the hotel lobby, restaurant and bar; renovation of all guest rooms, suites and meeting spaces; reconstruction and renovation of public areas in the health club; and development of a 17,000-square-foot branded spa and resort pool complex. The Houstonian was last renovated in 2003.
Images Courtesy of TripAdvisor