Barings Lends $80M On 310-Key Chicago Hotel
201 North State Street, Chicago, Illinois 60601, United States
$80,000,000
Building Size
—
Asset Type
Hotel
Closing
May 31, 2022
About this deal
AI
The property involved in this transaction is a hotel located at 201 North State Street in Chicago. The hotel has a total of 310 keys, indicating the number of rooms available for guests.
Summary of Transation Details
- Property Type: Hotel
- Transaction Amount: $80,000,000
- Lender: barings-4626a10b-91b9-4404-b096-d78fc90a0c26''>Barings
- Landlord: ECD - Gerald Greenberg & Scott Greenberg
- Loan Terms: 10-year
The individuals involved in this deal include Scott Greenberg and Gerald Greenberg, who are presumably the owners of the property. ECD, which stands for Emerald City Development, represents Gerald Greenberg & Scott Greenberg as their broker representatives in this transaction.
Players
Chicago Hotel Market Snapshot
Boundary boundary · Hotel · Loan transactions
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Deal FAQ
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.20%
Cash-on-Cash
-0.06%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93