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Chicago & Midwest  + Downtown  + Hospitality  | 

Extended-Stay in River North Scores $58M Refi

JLL Capital Markets arranged a near $58-million refinancing for Home2Suites by Hilton Chicago River North, a newly-constructed, 206-suite, extended-stay hotel in River North. The team of Keith Largay, Jeff Bucaro, Nicole Aguiar and Brian Walsh worked on behalf of locally-based developer Akara Partners.

The floating-rate loan was placed with a global investment management firm. Loan proceeds will be used to refinance the construction loan.

Home2Suites by Hilton Chicago River North opened its doors in February 2019. The 17-story hotel at 110 W. Huron St. is surrounded by 146 million square feet of office space and within walking distance to the new, $100-million Chicago Riverwalk. Additionally, the hotel is convenient to major Chicago attractions, including Navy Pier, Millennium Park, the theater district and the United Center, along with the shopping options along Michigan Avenue.

Connect Industrial Midwest is coming to Rosemont, IL on March 4. For more information, or to register, click here.

For comments, questions or concerns, please contact Paul Bubny

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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