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, a bar with seating area, a gym, meeting rooms totaling 2,860 sq. ft. and an event space spanning 2,050 sq. ft., which opens to the courtyard.
The ground floor of the building will undergo renovations in the second half of the year. The lobby, breakfast area, bar, seating areas and event space will be completely redesigned, and the gym will be relocated. 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 an open kitchen concept. 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.
