Natixis Provides $270M Refi on Chicago JW Marriott
By Mack Burke August 22, 2017 1:15 pm
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Natixis announced yesterday it provided a $270 million, five-year, fixed-rate loan to refinance a JW Marriott hotel in downtown Chicago.
The property at 151 West Adams Street is owned by UST XIX 208 S LaSalle, LTD., a subsidiary of a German real estate investment fund managed by affiliates of Estein USA, an investment firm based in Orlando, Fla.
The JW Marriott is a 12-story hotel with 581 rooms and 29 suites. The hotel has 38 meetings rooms spanning 45,000 square feet, plus a 20,000-square-foot spa, a fitness center and a full-service, seasonal Italian restaurant, according to information on the hotel’s website.
The first 12 floors of the property—previously the Continental & Commercial National Bank Building— were transformed into a 610-room hotel in 2010.
HFF’s Danny Kaufman and Jeff Bucaro arranged the financing, according to information provided by Natixis. The HFF brokers didn’t immediately return a request for comment and nor did an official for Natixis.
