JLL Capital Markets has arranged $30.6 million in financing for the 122-key Hotel Granduca in Houston. The firm represented the borrower, Transwestern Hospitality Group, and secured the five-year, floating-rate loan from Prime Finance.
Built in 2006, the six-story hotel sits on 3.57 acres of land and features an Italian-inspired design. Its centerpiece is a landscaped interior courtyard with a pool, garden, and seating area. It has two dining options (Alba restaurant and Il Giardino), a bar with seating area, meeting rooms totaling 2,860 sq. ft. and event space spanning 2,050 sq. ft., which opens to the courtyard. Additionally, there is a large gym available for guests.
The ground floor of the building will undergo renovations in the second half of 2024. The lobby, breakfast area, bar, seating areas and event space will be completely redesigned, and the gym will be relocated. The lobby will be transformed with new materials and lighting to create a sense of luxury and comfort. The tearoom will be turned into a salon for social and cultural events, and a larger bar will be added adjacent to the salon. The existing restaurant will be moved to an event space that opens onto the garden with a modern design and open kitchen concept, and the former restaurant space will become an event space and a portion of the parking lot will be converted into a tented outdoor venue. Additionally, the garden will have designated areas for different gatherings and the outdoor pool will be made more private.
The JLL Capital Markets team was led by Senior Director Jillian Mariutti and Managing Director Mark Fisher.
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