Hawkins Way Capital Secures Financing for River North Hotel

Hawkins Way Capital has closed a $5.225 million refinancing loan with Symetra Life Insurance Company as the lender for its Sonder-run Found Chicago hotel. The loan, brokered by Meridian Capital Group, will provide funding for the continuing operations at the 60-key hotel.

Originally the historic Olympia Building, the property was built in the 1910s and purchased by Hawkins Way in 2016. The property has been leased by publicly traded short-term rental company Sonder and features 60 rooms in the heart of River North. In addition to the guest rooms and amenity spaces, the 25,000-square-foot property also features a restaurant, cafe, and speakeasy-style bar. 

Hawkins Way has plans to self-manage versus lease the property in the future. Hawkins Way Capital has offices in Los Angeles and New York, and the firm is a vertically integrated real estate company with over $2.5 billion of assets under management.

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