Hotel Refinancing Moves Ahead

November 18, 2014

Source: Journal Online

Mission Capital Advisors announced its Debt & Equity Finance Group arranged a $20.5 million first mortgage facility for the aLoft O’Hare, a 251-key hotel in Rosemont.

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Posted: Tuesday, November 18, 2014 6:30 pm

Mission Capital Advisors, a national real estate capital markets solutions firm, announced its Debt & Equity Finance Group arranged a $20.5 million first mortgage facility for the aLoft O’Hare, a 251­key hotel in Rosemont. Mission Capital’s Jordan Ray, Stephen Emery, Ari Hirt
and Steven Buchwald represented Continental Properties Co. in arranging the financing with Natixis. “This is the second time we represented Continental Properties in the financing of the aLoft O’Hare, with this loan replacing a previous $16.5 million financing for the hotel in 2012,” said Ray. “They selected Mission again as they were seeking to capitalize on the current window of opportunity to refinance at historically low rates and the continued improvement in the regional hospitality market.” The aLoft is a six­story, 126,292­sq. ft. property at 9700 Balmoral Ave. next to MB Financial Park.

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