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.