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Houston’s Magnolia Hotel Nabs $42M CMBS Refi

HOUSTON-The fixed-rate loan, originated by UBS Securities LLC, refinances a first and second mortgage on the 314-room hotel.

By Jennifer Duell Popovec | Updated on June 08, 2011

HOUSTON-Stout Street Hospitality has obtained a $42 million first mortgage loan to refinance the Magnolia Hotel here. UBS Securities LLC originated 10-year, non-recourse conduit loan, which took out a first mortgage and a second mortgage and provided extra proceeds.  

Jones Lang LaSalle Hotels arranged the fixed-rate financing for the 314-room historic hotel. The firm’s Executive Vice President Mathew Comfort and Associate Mike Huth led the team.

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