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| Kinzie Hotel, 20 West Kinzie Street, Chicago, IL |
CHICAGO, IL –– Holliday Fenoglio Fowler, L.P. (HFF)
announces the $30.5 million refinancing for Kinzie Hotel, a 215-room
boutique hotel in the heart of Chicago’s River North submarket.
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| Daniel Kaufman |
The HFF team worked on behalf of the borrower, Bixby Bridge
Capital, LLC and Urbana Holdings, LLC (“Urbana”), to place the three-year,
floating-rate loan with two 12-month extension options with Annaly Commercial
Real Estate Group, Inc.
Loan proceeds
were used to refinance the existing mortgage in conjunction with installing
Urbana Varro as the new hotel management company.
Constructed in 2003 as an Amalfi Hotel, the property was renovated
and transformed in 2014 into the Kinzie Hotel. The hotel, which occupies
the first six floors of a 385,000-square-foot, Class A office building, has its
own lobby entrance and elevators on the first floor in addition to featuring
the Double Cross Lounge, 24-hour fitness center and 2,300 square feet of meeting
space.
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| Nicole Aguiar |
Kinzie
Hotel is at 20 West Kinzie Street in the heart of River North, which is
a prominent business hub containing over 13.6
million square feet of office space, and steps from Michigan Avenue,
positioning the hotel among upscale retailers, restaurants and offices.
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| Jeff Bucaro |
The HFF debt placement team representing the borrower consisted of
managing director Danny Kaufman, senior director Jeff Bucaro and
associate Nicole Aguiar.
For more
information, please contact:
KIMBERLY STEELE
HFF Digital
Content/Public Relations Specialist
(713) 852-3420
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