K&K to build Hampton Inn in Texas

Dallas-based Hall Structured Finance has originated a new first lien construction loan totaling $15.3 million to finance the development of a Hampton Inn & Suites in Shenandoah, Texas. The hotel is being developed and will be managed by Texas-based K&K Hotel Group. It is projected to open in late 2023.

“The Woodlands and neighboring cities such as Shenandoah and Oak Ridge North, have enjoyed unprecedented population and employment growth in recent years,” HSF VP Matt Mitchell said in a statement. “We believe the hotel’s prime location along Interstate-45 and the popularity of Hilton’s Hampton Inn brand coupled with the area’s robust business climate will make it a great addition for the growing number of business and leisure travelers to the area.” 

The five-story hotel will be located a mile north of The Woodlands Town Center, which serves as the “downtown” for the area. The Woodlands is a 28,800-acre master-planned community that is home to more than 118,000 residents and approximately 2,200 businesses. Located within the greater Houston market, the hotel has access to four hospitals, an airport, corporate campuses and office parks as well as Class A mixed-use developments, restaurants and entertainment venues.

The 106-room hotel will have more than 1,000 square feet of meeting space, a fitness center, lobby workstation, laundry room, a dining area with a full bar and an outdoor pool.

The loan was originated by Mitchell. This is the sixth property HSF has financed in the Houston metro and the 25th loan the private lender has originated in Texas. HSF is currently on track to close over $1 billion in new construction and bridge loans in 2022, largely targeting the hotel and multifamily sectors.