PACE Loan Group Arranges $6.2M C-PACE Loan For Northbrook Marriott Refinancing In Illinois

The Northbrook Marriott in Northbrook, Illinois, has undergone a refinancing transaction, including a $6.2 million C-PACE loan arranged by Matthew McCormack of PACE Loan Group. The hotel property, located at 933 Skokie Boulevard, consists of 391 keys and has recently completed improvements such as roofing and HVAC upgrades. These enhancements are estimated to generate annual savings of $1 million.

Summary of transaction details

• Property Type: Hotel
• Transaction Amount: $6,200,000
• Address: 933 Skokie Boulevard, Northbrook, Illinois
• Market: Northbrook
• Keys: 391

Matthew McCormack, Senior VP at PACE Loan Group, served as the broker in this recapitalization deal for the Northbrook Marriott. The $6.2 million C-PACE loan covered the cost of past improvements, ensuring the hotel's energy efficiency and overall functionality. McCormack's expertise and involvement in securing the loan played a crucial role in the successful refinancing of the Northbrook Marriott.