HFF Announces $28.1m Refinancing for Hotel Derek in Houston

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USA, Houston, Texas. February 15, 2018

Holliday Fenoglio Fowler, L.P. (HFF) announces the $28.1 million cash neutral refinancing for Hotel Derek, a 312-room, upscale, four-star hotel in Houston's urban, mixed-use Galleria/Uptown district.

The HFF team worked on behalf of the borrower, Lowe Enterprises Investors acting on behalf of its joint venture partnership, to secure the loan through BBVA Compass Bank. 

Hotel Derek is one of the rare independent upscale, lifestyle hotels inside of Houston's 610 Loop.  The hotel features the Revolve Kitchen + Bar, a Texas-chic restaurant with a seasonally inspired menu and horseshoe-shaped bar; more than 10,000 square feet of meeting and event space; 24-hour fitness center with new, state-of-the-art equipment; outdoor pool with queen-sized lounge chairs and day beds along with access to pool-side drinks and light snacks; outdoor movie theater; and 24-hour business center.  Since 2012, ownership has invested more than $8.8 million in upgrades and re-concepting various aspects of the hotel.  Situated on 2.3 acres at 2525 West Loop South Freeway in Houston's most walkable urban district, Hotel Derek enjoys a highly visible and accessible location at the intersection of the 610 Loop and Westheimer Road and within walking distance to the Galleria Mall and River Oaks District. 

The HFF debt placement team representing the borrower included managing directors Colby Mueck and Scott Hall.

About Lowe Enterprises Investors

Lowe Enterprises Investors (“LEI”) provides real estate investment advisory and management services to a select list of institutional and other clients.  LEI is headquartered in Los Angeles with offices in Denver and Philadelphia and is an SEC registered investment advisor.  With over $3 billion in assets under management, the firm is a recognized leader in the real estate industry. Since entering the investment advisory business in 1989, LEI has become a recognized leader in value-added commercial and hospitality investments, as well as structured finance in the single-family residential, hospitality and office sectors.  LEI is an affiliate of Lowe, a national investment, development, and management firm. Since inception in 1972, Lowe has acquired, developed or managed more than $28 billion of real estate assets.  Lowe maintains additional regional offices in Southern California, Denver, Philadelphia, Seattle, and Washington, D.C.  For more information about LEI, please visit:   www.leinvestors.com.

About HFF

HFF and its affiliates operate out of 25 offices and are a leading provider of commercial real estate and capital markets services to the global commercial real estate industry.  HFF, together with its affiliates, offers clients a fully integrated capital markets platform, including debt placement, investment advisory, equity placement, funds marketing, M&A and corporate advisory, loan sales and loan servicing.  HFF, HFF Real Estate Limited, HFF Securities L.P. and HFF Securities Limited are owned by HFF, Inc. (NYSE: HF).  For more information, please visit hfflp.com or follow HFF on Twitter @HFF.

Media Contact:

Colby Mueck
HFF Managing Director
713-852-3500
[email protected]  

Kimberly Steele
HFF Digital Content/Public Relations Specialist
713-852-3420
[email protected]