JLL Capital Markets arranged $30.6 million in financing for the 122-key Hotel Granduca in Houston. JLL represented the borrower, Transwestern Hospitality Group, and secured the five-year, floating-rate loan from Prime Finance.
The hotel has two dining options (Alba restaurant and Il Giardino), a bar and seating area, meeting rooms covering 2,860 square feet and event space spanning 2,050 square feet that opens to the courtyard. The property also has a gym and outdoor space.
Built in 2006, the six-story hotel sits on 3.57 acres of land and has a 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. 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, 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.