HGC participated in a $86 million senior loan to the InterContinental Houston – Medical Center. HGC collaborated with a U.S. bank to provide the financing to the luxury hotel developed by renowned Texas developer Medistar Corporation. The loan was initially closed in 2019 and HGC invested in the extension period of the loan.
InterContinental Houston – Medical Center, which opened in March 2019, is a 22-story, 354-key hotel in the thriving Texas Medical Center (“TMC”) of Houston, Texas. The TMC is the largest medical complex in the world, with over 50 million square feet across 290 buildings, 21 hospitals, and 1,345 acres. It is also home to Texas Children’s Hospital, the world’s largest children’s hospital and MD Anderson Cancer Center, the world’s largest cancer hospital.
Located at 6750 Main Street, InterContinental Houston – Medical Center is the first full-service luxury hotel delivered in the TMC in several decades. Welcoming business and transient guests to the TMC ecosystem, the hotel features a high-end food and beverage offering, lobby bar, outdoor pool, state-of-the-art fitness center, workstations, and over 11,000 square feet of meeting and ballroom space. Unique to the hotel is its concierge medical clinic, which offers two private examination rooms and provides unparalleled on-site convenience and privacy.