Gencom And GD Holdings Acquire St. Regis Chicago Hotel For $134M
363 E. Wacker Drive, Chicago, Illinois 60601
$134,000,000
Building Size
—
Asset Type
Hotel
Closing
May 17, 2023
About this deal
AI
Chicago's St. Regis hotel has been sold for about $134 million, making it the city's largest hotel sale in years. The buyer, a joint venture between Gencom and GD Holdings, acquired the 192-key luxury hotel located at 363 East Wacker Drive for around $700,000 per room.
Summary of transation details
- Property Type: Hotel
- Transaction Amount: $134,000,000
- Address: 363 East Wacker Drive - The St. Regis Chicago
- Market: Chicago
The seller of the St. Regis hotel in Chicago is Magellan Development Group. The buyer was represented in the transaction by Alessandro Colantonio from Gencom and GD Holdings.
On the Map
$134,000,000
Hotel
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Players
Chicago Hotel Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.12%
Cash-on-Cash
-0.03%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93