Daily limit: 0/10
Vinayaka Hospitality Secures $54 Million Loan For Westin Michigan Avenue Hotel In Chicago
FINANCED
$54,000,000
Illinois
See Similar DealsHotel
Financed 12/08/2025
FINANCED
Vinayaka Hospitality Secures $54 Million Loan For Westin Michigan Avenue Hotel In Chicago
909 North Michigan Avenue
See Similar DealsHotel
Financed 12/08/2025
Summary
ILLINOIS
Asset Type:Hotel
Transaction Type:Loan
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.
Players
Details
Stay in the Know
Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.
By subscribing, you agree to our Terms of Service and Privacy Policy.
Similar Deals
Contact
Get in touch with the broker you want
Suggestions
CRE CalculatorAnalyze deals based on income, expenses, and financing. We automatically filled the calculator with data from the deal you are viewing, fill free to modify it to see how it affects the results.
Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$54,000,000.00
Monthly NOI$360,000.00
Monthly Debt Service$341,316.73
Change in Cash Flow$0.00
Refinance Proceeds$0.00
Is there something missing? Send suggestions