Vinayaka Hospitality Secures $54 Million Loan For Westin Michigan Avenue Hotel In Chicago
909 North Michigan Avenue
$54,000,000
Building Size
—
Asset Type
Hotel
Closing
Dec 8, 2025
About this deal
AI
The asset involved in this transaction is the Westin Michigan Avenue hotel located at 909 North Michigan Avenue in Chicago. A loan amount of $54,000,000 was arranged to facilitate its operational and business plans.
Summary of transaction details:
- Property Type: Hotel
- Transaction Amount: $54,000,000
- Landlord: Vinayaka Hospitality
- Broker: Mark Perkowski - Draper and Kramer
- Date: 12/08/2025
Draper and Kramer was responsible for arranging the loan from a life insurance company, which provided the necessary leverage, term, and flexibility for Vinayaka Hospitality to execute its plans for the hotel. Mark Perkowski represented Draper and Kramer in this transaction.
On the Map
$54,000,000
Hotel
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Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.29%
Cash-on-Cash
-0.08%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93