SB Yen Mgmt Secures $7.05M Bridge Loan For Comfort Inn In Downers Grove
Illinois
See Similar DealsSB Yen Mgmt Secures $7.05M Bridge Loan For Comfort Inn In Downers Grove
3010 Finley Rd, Downers Grove, IL, 60...
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The Comfort Inn located at 3010 Finley Road in Downers Grove, Illinois, was subject to a $7.05 million bridge loan arranged by Chicago-based Aries Capital Partners. The loan enabled SB Yen Management Group to refinance the property, with plans to incorporate San Francisco’s Kingdom of Dumpling into the hotel's adjacent 21,000 square-foot banquet/retail space, enhancing the overall offering of the 121-key hotel.
Summary of transaction details:
- Property Type: Hotel
- Transaction Amount: $7,050,000.00
- Address: 3010 Finley Rd, Downers Grove, IL
- Market: Downers Grove
- Borrower's Rep: Neil Freeman()
- Lender: Unknown life insurance company
Neil D. Freeman, the chairman and CEO of Aries Capital, played a pivotal role in originating the transaction, with senior associate Brandon Perdeck overseeing the underwriting and closing processes. As the long-time client of Aries Capital, SB Yen Management Group's strategic vision for the property includes transforming the banquet/retail space to accommodate the renowned Kingdom of Dumpling, further establishing the hotel as a premier destination in the area.
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