Arriba Capital recently closed a $52.5-million ground-up construction loan for a Holiday Inn Express and Staybridge Suites dual-brand property in the central business district (CBD) of Houston. The property is being developed and managed by Houston-based Neway Hospitality. The loan was sized to 75% loan to cost with a $34.5 million senior loan and $18 million of C-PACE financing.
“The Neway Hospitality group are experienced hotel developers, owners and operators with a deep track record in the Houston market,” said Ryan Bosch, principal, Arriba. “The strength of the sponsorship, in conjunction with the A+ site in downtown Houston, made this financing possible in a difficult capital markets environment.”
The property will feature 275 guestrooms combined featuring traditional and extended-stay options. Building amenities include an outdoor pool on the fifth floor, meeting space, a full-service bar, a fitness center, a business center and a dining area for complimentary breakfast. The hotel is expected to open in the fourth quarter of 2025.
Ali Momin, general partner, Neway Hospitality, added, “Collaborating with Arriba Capital proved to be an exceptionally wise choice. Ryan Bosch is known as an expert in the construction capital markets for hotels and that proved true on the capital structure we were able to achieve for this project.”
