The Prime Group, Inc. Acquires Hotel In Chicago For $141M
FINANCED
$141,000,000
Illinois
See Similar DealsHotel309,400 SF
Financed 02/11/2021
FINANCED
The Prime Group, Inc. Acquires Hotel In Chicago For $141M
11 South LaSalle Street, Chicago, IL, USA
See Similar DealsHotel309,400 SF
Financed 02/11/2021
Summary
ILLINOIS
Asset Type:Hotel
Price Per Square Foot:$455
Total Square Footage:309,400 SF
Transaction Type:Loan
An hotel located at 11 S. LaSalle Street in Chicago was involved in a recent transaction. The property, managed by The Prime Group, Inc. and represented by Michael W. Reschke, was the subject of a loan. The loan amount secured for the hotel was $141,000,000. The transaction took place on February 11, 2021.
Summary of transaction details:
- Property Type: Hotel
- Transaction Amount: $141,000,000
- Address: 11 S. LaSalle Street, Chicago
- Market: Chicago
Michael W. Reschke, representing The Prime Group, Inc., played a key role in the transaction.
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$141,000,000.00
Monthly NOI$940,000.00
Monthly Debt Service$891,215.91
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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