Soho House Chicago Lands $65M CMBS Loan From Barclays
By Andrew Coen February 12, 2025 10:56 am
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A joint venture between Gaw Capital and Button Capital has secured $65 million of commercial mortgage-backed securities (CMBS) debt to refinance Soho House Chicago, Commercial Observer can first report.
Barclays (BCS) Bank originated the CMBS loan for the 120,000-square-foot private club and 40-key boutique hotel in Chicago’s Fulton Market neighborhood.
The deal closed Monday.
Walker & Dunlop arranged the transaction with a team made up of Aaron Appel, Jonathan Schwartz, Adam Schwartz, Keith Kurland, Ari Hirt, Christopher de Raet and Stanley Cayre.
Located at 113-125 North Green Street, Soho House opened in 2018 as the largest Soho House at the time for the London-based company. In addition to the hotel and private members club area, the development today features an 80-foot-long rooftop pool, a gym, a spa, a restaurant, two bars and a screening room, according to the Soho House website.
Soho House has been in expansion mode in recent years as demand for private clubs has grown in New York and other large U.S. cities.
Officials at Gaw Capital, Button Capital, Barclays, Soho House and Walker & Dunlop did not immediately return requests for comment.
Andrew Coen can be reached at acoen@commercialobserver.com.
