Mission Capital Arranges Acquisition Financing for Houston Hotel
ByMission Capital Advisors’ debt and equity finance group has arranged a $15.3 million acquisition loan on behalf of Midas Hospitality for the newly built Staybridge Suites Houston–Medical Center. The 120-key, extended-stay hotel is located at 9000 South Main St. in Houston, Texas.
PROPERTY CHARACTERISTICS
The hospitality asset opened in January 2017 in the Texas Medical Center submarket, near NRG Park convention center, NRG Stadium, Rice University and the Texas Medical Center. The franchised property serves long-term travelers—internationally, roughly 60 percent of Staybridge Suites guests make arrangements for five or more nights. Hotel amenities include a fitness center, business center, meeting room, barbecue grills, self-laundry facilities and an outdoor pool. In-room amenities include 42-inch cable TVs, fully equipped kitchens with cooktop stoves, full-size refrigerators and dishwashers…
Mission Capital Arranges Acquisition Financing for Houston Hotel
