JLL today announced it has secured $60 million to refinance the Hyatt Regency Houston Galleria, a 325-key hotel located in Houston, Texas. Metlife provided the loan, which will be used to retire the existing construction debt.

Senior Managing Director Jeffrey Davis, Executive Managing Director Mike Melody, Managing Directors Kevin Davis andPaul House and Senior Vice Presidents Matt Nowaczyk and John Ream led the JLL team on the transaction.

“The current environment is very conducive to refinancing. The cost of debt is attractive to owners and we’re seeing an increased number of lenders active in the Houston market,” Ream said. “Hyatt Regency Galleria is backed by sponsorship with a proven track record and strong in-place cash flow, which made this an attractive opportunity to lenders.”

The recently constructed, institutional-quality hotel is located in Houston’s Uptown submarket, adjacent from The Galleria, a 2.4 million-square-foot high-end retail center. Amenities include more than 19,000 square feet of flexible meeting and event space, two food and beverage outlets, an outdoor pool with a sundeck and a fitness center.

JLL’s Hotels & Hospitality Group has completed more transactions than any other hotels and hospitality real estate advisor over the last five years, totalling more than $71 billion worldwide. The group’s 350-strong global team in over 20 countries also closed more than 5,300 advisory, valuation and asset management assignments. Our hotel valuation, brokerage, asset management and consultancy services have helped more hotel investors, owners and operators achieve high returns on their assets than any other real estate advisor in the world.JLL’s Hotels & Hospitality Group

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