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Kinzie Hotel in River North Lands $30M Refi
HFF has arranged a $30.5-million refinancing for the Kinzie Hotel, a 215-room boutique property in Chicago’s River North neighborhood. The three-year, floating rate loan was placed with Annaly Commercial Real Estate Group, on behalf of Bixby Bridge Capital and Urbana Holdings.
Loan proceeds were used to refinance the existing mortgage, in conjunction with installing Urbana Varro as the new hotel management company. The HFF team representing the borrower consisted of Danny Kaufman, Jeff Bucaro and Nicole Aguiar.
Constructed in 2003 as an Amalfi Hotel, the property at 20 W. Kinzie St. was renovated and transformed in 2014 into the Kinzie Hotel. The hotel, which occupies the first six floors of a 385,000-square-foot, Class A office building, has its own lobby entrance and elevators on the first floor.
For comments, questions or concerns, please contact Paul Bubny
- ◦Financing
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