Houston, TX JLL Capital Markets arranged $30.6 million in financing for the 122-key Hotel Granduca.
JLL represented the borrower, Transwestern Hospitality Group, and secured the five-year, floating-rate loan from Prime Finance.
The hotel has several amenities, including two dining options (Alba restaurant and Il Giardino), a bar and seating area, meeting rooms totaling 2,860 s/f and event space spanning 2,050 s/f, which opens to the courtyard. Additionally, there is a gym available for guests. The hotel also provides surface parking and of outdoor space.
Built in 2006, the six-story hotel is on 3.57 acres and features an Italian-inspired design. Its centerpiece is a landscaped interior courtyard with a pool, garden, and seating area.
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.
Hotel Granduca is a boutique hotel within walking distance of dining, shopping and entertainment options. Additionally, it is situated near Houston’s high-end residential market.
The JLL Capital Markets team was led by senior director Jillian Mariutti and managing director Mark Fisher.
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