 |
| Aloft Chicago O'Hare, Rosemont, IL |
New York, NY -- PCCP, LLC announced it provided a $16.5 million senior loan to
Continental Properties for the refinancing of the
Aloft Chicago O’Hare,
a 251-key, six-story, Starwood-flagged, select-service hotel located at 9700
Balmoral Ave. in Rosemont, Il, near the Chicago O’Hare Airport. Continental
Properties completed development of the Hotel in July 2008.
“The area immediately surrounding the hotel is undergoing a
positive transformation with new restaurants, entertainment venues, and a
530,000-square-foot outlet mall,” said John Prete, vice president with
PCCP, LLC.
 |
| John Prete |
“We were drawn to this financing opportunity by the
attractive basis and cash flow metrics, rebounding submarket, and the strength
of Continental Properties and its hotel manager, Aimbridge Hospitality.”
For a complete copy of the company’s news release, please
contact:
Darcie Giacchetto
Spaulding Thompson & Associates
949.278.6224
No comments:
Post a Comment