Thank you for sharing!

Your article was successfully shared with the contacts you provided.

HOUSTON-The Humble Building, a venerable Downtown Houston landmark, will undergo a startling makeover with $43 million in construction capital from the GMAC Commercial Mortgage Hospitality Industry Division in Washington, DC and its Construction Lending Division in Chicago.

The allocations are $16.3 million for a 191-unit limited-service Courtyard by Marriott; $16 million for a 171-unit limited-service Residence Inn; and $10.7 million for an 82-unit apartment complex. The Humble Building at 1212 Main St., in Houston’s now-thriving CBD, occupies a full city block of land measuring 65,259 sf, bounded by Main Street to the southeast, Polk Street to the southwest, Travis Street to the northwest, and Dallas Street to the northeast. Construction is anticipated to take two years, a source tells GlobeSt.com.

Built in 1921, the 549,002-sf Humble Building originally had housed the corporate headquarters of Humble Oil Corp., predecessor to Exxon Corp. “The Humble Building was constructed in four phases,” Scott Rombach of GMAC Commercial Mortgage, tells GlobeSt.com. “The first phase was a nine-story I-shaped building. A 17-story tower was added between 1934 and 1936; a wing was added at the Travis/Dallas Street intersection between 1938 and 1940; and a freestanding, one-story pavilion was added in 1963. A basement extends beneath the entire footprint of the building.”

There was a time when “Houston” and “Humble” seemed synonymous. The Humble-sponsored Southwest Conference football broadcasts by Kern Tips made Humble a household name.

The resurrection of the property is a venture between Historic Restoration Inc. and Kimberly Clark Corp. Marriott International Inc. assisted with the financing. The group has received a $43-million, mini-permanent construction loan with a 22-month term. A takeout is in place from Hibernia Bank, which is also participating in the transaction during the construction period.

GMAC Commercial is a financial solutions provider servicing commercial borrowers and investors seeking relationship-based advice and consultation. It offers loan origination, servicing, asset management and securitization of commercial mortgages. With a servicing portfolio of more than $82 billion, it originated nearly $13 billion in commercial mortgage loans during 1999.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

Dig Deeper



Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.