Arriba Capital announces that it recently closed a $37,400,000 ground-up construction loan for a dual-brand hotel property in Houston.  The property is being developed and managed by Houston based PA Hospitality. It will be a combination Home2 Suites and Tru by Hilton in downtown Houston.

The property, located at 1514 Leeland Street, will feature 221 guest rooms featuring traditional and extended stay options. Building amenities include a shared lobby bar, breakfast dining areas, meeting space, outdoor pool, fitness room, laundry facilities, and a market pantry. The opening of the hotels are expected in third quarter of 2024. 

Arriba’s Ryan Bosch stated, “The PA Hospitality group are experienced hotel developers, owners, and operators with a deep track record in the Houston market. The strength of the sponsorship in conjunction with the A+ site in downtown Houston made this financing possible in a difficult capital markets environment.”