Associate Bank coordinates $36M loan for new Marriott Autograph Collection Hotel in Chicago

January 27, 2016  |  Stephanie Aguilar  |  Print Article  |  Email this Article

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The Cosmopolitan of Las Vegas, 3708 Las Vegas Boulevard South in Las Vegas, and The Algonquin Hotel Times Square, 59 West 44th St. in New York City, are a part of Marriott’s Autograph Collection Hotel brand.

 

Associated Bank has coordinated a $36 million loan for ECD Company affiliate, SMASHotels Chicago, LLC, for the construction of the new Marriott Autograph Collection Hotel in the Streeterville neighborhood of Chicago.

The Autograph Collection Hotels are said to be “exactly like nothing else.” They are described as an “evolving ensemble of strikingly independent hotels with locations selected for their quality, bold originality, rich character and uncommon details.”

Located at 228 E. Ontario Street, the 21-story, 195-room hotel will feature a restaurant and lounge in the first floor, meeting and event space, a fitness room, and business center. Associated had previously provided the land acquisition loan for the property.

Other Chicago hotels ECD Company developed, owns and operates through SMASHotels Life & Travel, include: theWit Hotel, located at State & Lake in the loop; the Fairfield Inn & Suites Magnificent Mile, located on Ontario Street; and the Hampton Inn & Suites Lincolnshire located in CityPark Lincolnshire.

Senior Vice President Krista Casper of the Commercial Real Estate division of Associated Bank managed the loan.

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