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Chicago & Midwest  + Downtown  + Illinois  + Hospitality  | 

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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Inside The Story

Hawkins Way Capital

About Jasmine Kilman

Jasmine Kilman is Content Director of Connect Commercial Real Estate, covering Chicago and greater Chicagoland, the Midwest, Seattle, and the Pacific Northwest. She covers industry trends, transaction deals, market research, and produces daily news stories. With experience in marketing and communications for academic nonprofits and corporate clients, including Hearst Media, Hilton, and Coldwell Banker, Kilman has written about commercial real estate, environmental, social, and corporate governance (ESG), technology, healthcare, and philanthropy. She was born and raised in California and graduated with a degree in public relations. In her spare time, Kilman enjoys hiking and traveling to new locations with her family.

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