Värde Partners Lends $58M on Houston Hotel Acquisition
By Andrew Coen October 2, 2023 11:07 am
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Stockdale Capital Partners has sealed $58 million of acquisition financing to purchase a Houston hotel adjacent to Texas Medical Center (TMC), Commercial Observer has learned.
Värde Partners, a global alternative investment firm, supplied the loan for Stockdale’s acquisition of InterContinental Houston, a 464-key IHG hotel that opened in 2019.
Jim Dunbar, partner and head of real estate lending, at Värde Partners, said in a statement the hotel is a “strong asset with multiple demand drivers in the Houston market.”
Newmark (NMRK)’s Jordan Roeschlaub, Dustin Stolly, Nick Scribani, Christopher Kramer, Tyler Dumon and Chase Tagen arranged the debt transaction.
“The InterContinental Houston is the only luxury hotel in the TMC area, and we intend to build even further upon its strong track record of success,” Bill Doak, managing director of hospitality for Stockdale, said in a statement.
Stockdale said it plans to invest additional capital into the hotel at 6750 Main Street as part of a targeted business plan. Houston’s TMC, which is the largest medical complex in the world, is slated to double in size over the next decade with $3 billion of new facility developments.
Andrew Coen can be reached at acoen@commercialobserver.com.
