JLL Secures Five-Year Fixed-Rate Refinancing for Chicago River North Dual-Brand Hotel Portfolio

Reuters01-14
JLL Secures Five-Year Fixed-Rate Refinancing for Chicago River North Dual-Brand Hotel Portfolio

Jones Lang LaSalle Inc. $(JLL)$ has secured refinancing for a dual-brand hotel portfolio in Chicago's River North district. Acting on behalf of a joint venture between Friedman Properties and White Lodging, JLL arranged a fixed-rate, five-year loan through PGIM Real Estate's core lending business. The refinancing supports the ownership and capital planning strategy for the 523-key portfolio, which includes the Residence Inn River North and SpringHill Suites River North, both Marriott-affiliated hotels located at 410 North Dearborn Street. The transaction highlights the continued strength of Chicago's lodging market and the appeal of the newly renovated properties.

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