California CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
JLL Lines Up Construction Loan for AC Hotel by Marriott
JLL Capital Markets recently arranged $36.8 million in construction financing for 550-566 E Colorado Blvd., a 194-key, six-story hotel development in the Playhouse District of Pasadena. A JLL team of senior managing director Marc Schillinger and senior director Matt Stewart. represented the developer, Welcome Group Inc., to secure the three-year loan with two one-year extension options.
Slated for completion in 2025, the hotel will operate as an AC Hotel by Marriott. “The proposed AC Marriott will be the newest select service property in Pasadena and the only branded hotel in the Playhouse District,” said Schillinger.
He continued, “The hotel’s strong brand affiliation, proximity to demand generators and select-service product offering will allow it to become an ideal choice for leisure and business travellers visiting Pasadena.”
- ◦Financing


