Project to turn historic Southwestern Bell building into Hyatt Place lands financing

Financing has been secured for downtown Houston’s latest hospitality project, which will convert the former Southwestern Bell Telephone Company office building into a Hyatt Place Hotel.

Dallas-based HALL Structured Finance closed a new first lien construction loan totaling $22.8 million for the project, according to a Nov. 15 press release. Leading the redevelopment are Anthony and Nick Patel, co-owners of Beaumont-based Pride Management Inc., which will manage the future hotel.

Click to read more at Houston Business Journal.