Posted 6/26/2012 - 9:55:43 AM
HOUSTON—HFF arranged an $85 million refinancing for The Houstonian Hotel, Club & Spa here.
Working on behalf of The Redstone Companies, L.P., HFF secured the fixed-rate loan. Capital was provided by AXA Equitable Life Insurance Co. through its advisor, Quadrant Real Estate Advisors.
The Houstonian is situated on 18.3 wooded acres in the Galleria area. In addition to 289 guestrooms, the property includes a health club and day spa, as well as 26 meeting spaces. Renovated in 2003, hotel amenities include 24-hour room service, valet parking, bar, café and two full-service restaurants, access to the private Houstonian Club and preferred access to Redstone Golf Club.
The HFF team representing the borrower was led by Managing Director Matt Kafka and real estate analyst Corby Chaffin.
The Redstone Companies is a privately owned company located here with a focus on hospitality, real estate and private equity. Redstone Companies Hospitality brands include The Houstonian Hotel, Club & Spa; Trellis, The Spa; Houstonian Lite-Pennzoil; Shadow Hawk Golf Club; The Houstonian Golf & Country Club; Redstone Golf Club and BlackHorse Golf Club. Managed properties include Lakeway Resort and Spa, Houstonian Lite-Wells Fargo and Vanderbilt Legends Club.
Quadrant Real Estate Advisors LLC, is a SEC-registered investment advisor with approximately $6.2 billion of commercial and multifamily real estate investments under management on behalf of institutional investors.