Joint Venture Of Gencom And GD Holdings Secures $125M Refinance From Banco Inbursa For St. Regis Chicago

The St. Regis Chicago, a hotel asset with 192 keys, is located at 363 East Wacker Drive in the Chicago market. A refinancing loan amounting to $125,000,000 has been secured for this property, which retired $76,000,000 in previous debt and allowed for a cash-out of approximately $49,000,000. The property was acquired in 2023 for about $119,000,000 and is benefiting from recovery in occupancy and revenue post-pandemic.

Summary of transaction details:

• Property Type: Hotel
• Transaction Amount: $125,000,000
• Lender: Banco Inbursa
• Landlord: Karim Alibhai - Gencom; Salomon Juan Marcos Villarreal - GD Holdings
• Landlord's Representative: Stearns Weaver Miller
• Lender's Advisor: Gibson Dunn
• Keys: 192

This transaction was facilitated by a joint venture between Gencom and GD Holdings. The refinancing reflects improved fundamentals and a renewed interest from lenders in Chicago’s hotel market.