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California  + Los Angeles  + Finance  | 
JLL Capital Markets recently arranged $36.8 million in construction financing for an AC Hotel by Marriott in the Playhouse District of Pasadena

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.” 

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JLL's Schillinger

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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