Ladder Capital Provides $38.7M Acquisition Loan for Chicago Marriott Schaumburg

SCHAUMBURG, ILL. — Ladder Capital has provided a $38.7 million loan for the acquisition and renovation of Chicago Marriott Schaumburg. The 398-room hotel is located at 50 N. Martingale Road in suburban Chicago. The 13-story property is situated within the Woodfield Corporate Center, an office complex spanning more than 3 million square feet. Completed in 1983 and renovated in 2007, the hotel features a fitness center, business center, indoor and outdoor pools, two restaurants and 18,536 square feet of meeting space. Jeff Bucaro, Nicole Aguiar, Tony Malk, Matt Enright and Bryan Rosenberg of HFF arranged the three-year loan on behalf of the borrower, Arbor Lodging Partners. The Chicago-based company is planning significant upgrades to the property, including a full renovation of the lobby, meeting space, common areas and guest rooms. Arbor Lodging Management manages the hotel.