JLL Capital Arranges $76M Acquisition Loan For St. Regis Luxury Hotel In Chicago
401 E Wacker Dr, Chicago, IL 60601, USA
$76,000,000
Building Size
—
Asset Type
Hotel
Closing
May 16, 2023
About this deal
AI
The St. Regis luxury hotel in Chicago has secured a $76 million acquisition loan arranged by JLL Capital Markets. This financing represents the first 5-star hotel built in the city in over a decade, offering a prime location, exceptional room quality, and amenities. The property, located at 401 East Wacker Drive, features 192 keys and is owned by Gencom, GD Holdings, and Magellan.
Summary of transaction details
- Property Type: Hotel
- Transaction Amount: $76,000,000
- Address: 401 East Wacker Drive - St. Regis
- Market: Chicago
- Keys: 192
JLL Capital Markets, acting as the broker, facilitated the deal. Eric Tupler, Jeff Bucaro, Mark DesLauriers, and Jake Martin, all representing JLL, played a key role in the transaction.
On the Map
$76,000,000
Hotel
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.21%
Cash-on-Cash
-0.06%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93