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Chicago & Midwest  + Greater Chicagoland  + Hospitality  |  July 22, 2020
Paul Bubny
By: Paul Bubny

CBRE Advises on Sale of Hoffman Estates Marriott

CBRE Hotels acted as advisor for the seller on the recent sale of the Marriott Chicago Northwest located in Hoffman Estates, IL. The 295-room hotel was acquired by Hoffman Estates Hotel Group, LLC, particularly through the efforts of brothers Harry and Alex Ghoman, of the Indianapolis-based Ghoman Group.

The Ghomans plan substantial renovations to the property, which they acquired for an undisclosed sum. Eric Belfrage of CBRE said, “The renovated Marriott will be conducive to improved sports, social, and small-group gatherings, as well as present an elevated leisure and corporate offering.”
Belfrage and John Karver of CBRE Hotels acted as the exclusive agent for the seller.

Mag Mile Capital’s Rushi Shah and Prabhat Jayara completed an interest-only bridge loan to finance the acquisition. They placed the deal with a real estate private lender after the original lender cancelled all in-process deals as the COVID-19 pandemic ensued.

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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