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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.
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