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Radisson Blu Aqua Hotel, Chicago Refi’d for $64M
HFF arranged a $64 million refinancing for Radisson Blu Aqua Hotel, Chicago, a 334-room, luxury, modern hotel in downtown Chicago. The HFF team worked on behalf of the borrower, a partnership comprising Al Rayyan Tourism Investment Company (ARTIC), Magellan Development Group and Carlson Rezidor Hotel Group, to place the 10-year, fixed-rate loan with J.P. Morgan Chase & Company.
Completed in 2011, Radisson Blu Aqua Hotel, Chicago occupies floors four through 18 of the Aqua Tower, an 82-story mixed-use building within the award-winning Lake Shore East Development, along Lake Michigan. This hotel marked the first U.S. location for the Radisson Blu hotel brand, an upscale brand that currently operates in 400 properties now open or in development globally.
HFFs’ debt placement team representing the borrower included Danny Kaufman, Jeff Bucaro and Nicole Aguiar. HFF will service the securitized loan, proceeds of which were used to refinance the prior first mortgage.
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Financing