Validus Capital Acquires The Getaway Hostel In Lincoln Park For $6.5 Million From DRW

The asset involved in this transaction is a hotel located at 616 West Arlington Place in Lincoln Park, Chicago. The sale was executed for a transaction amount of $6,500,000, with a total of 119 keys, resulting in a price per key of $54,622.

Summary of transaction details:

• Property Type: Hotel
• Transaction Amount: $6,500,000
• Buyer: Anthony Chedid - Validus Capital
• Seller: Don Wilson - DRW
• Keys: 119
• Price Per Key: $54,622

This transaction involved Don Wilson representing DRW, while Anthony Chedid represented Validus Capital. Notably, Convexity, the real estate arm of DRW, facilitated the sale and plans to remain as a tenant in the property after Validus Capital becomes the landlord, indicating a potential partnership arrangement.