BBVA Compass Provides $28.1M Refinancing for 312-Room Hotel in Houston
HOUSTON — BBVA Compass, a Birmingham, Ala.-based bank, has provided a $28.1 million loan for the refinancing of Hotel Derek, a 312-room hotel located in Houston’s Galleria neighborhood. The hotel features a 24-hour fitness center, outdoor pool, more than 10,000 square feet of meeting space and an outdoor movie theater. Colby Mueck and Scott Hall of HFF arranged the loan on behalf of the borrower, Lowe Enterprises Investors, a Los Angeles-based advisory and management firm. Lowe has invested more than $8.8 million in upgrades into the property since 2012.