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JV Secures $28.1 Million Refi for The Hotel Derek

312-Room Hotel Has Undergone Nearly $9 Million in Renovations Since 2012
February 15, 2018
Lowe Enterprises Investors and True Road Hospitality secured $28.1 million in cash neutral refinancing for the Hotel Derek in Houston's Galleria/Uptown district.

Completed in 1979, the Hotel Derek is an independent, lifestyle hotel home to 312 guestrooms over 14 stories.

Located inside of Houston’s 610 Loop at 2525 W. Loop South Fwy., the hotel is home to more than 10,000 square feet of meeting space, the Revolve Kitchen + Bar, an outdoor pool and movie theater, a business center and a gym.

Lowe Enterprises and True Road Hospitality acquired the Hotel Derek in id-2012 for $59.25 million. Since that time, the venture has invested more than $8.8 million into upgrades.

Colby Mueck and Scott Hall of HFF's debt placement team arranged the loan through BBVA Compass Bank.
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