JLL SECURES $70.5M IN FINANCING FOR TWO HOTELS IN CHICAGO

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CHICAGO — On behalf of HCP Oxford OBG Wacker/Cass Property Cos. LLC, a joint venture led by Oxford Capital Group LLC and Jones Lang LaSalle (JLL) has secured $70.5 million for the refinancing of Hotel Felix and Hotel Cass in Chicago. The joint venture received $47 million for the 225-room Hotel Felix and $23.5 million for the 174-room Hotel Felix. The hotels are located in Chicago’s River North submarket in close proximity to the Magnificent Mile. An international lender provided the 10-year CMBS loans, which include fixed interest rates. Mathew Comfort, managing director, Keith Largay, executive vice president, and Matt Nowaczyk, vice president, led the Jones Lang LaSalle team, which arranged the financing.

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