HFF arranged an $85 million loan on behalf of The Redstone Cos. L.P. to refinance The Houstonian Hotel, Club & Spa, an 18.34-acre urban resort in Houston.
AXA Equitable Life Insurance Co. provided the funding for the transaction through its advisor, Quadrant Real Estate Advisors. The loan features a fixed interest rate.
Travel+Leisuremagazine ranked The Houstonian among the World’s Best Business Hotels in 2010. It features 289 guest rooms, 26 meeting spaces and an award-winning health club and day space. The property underwent a renovation in 2003.
Matt Kafka and Corby Chaffin, of HFF, negotiated this transaction.