Finance N Illinois
JLL arranges $61M financing for new Hyatt House hotel in Chicago

JLL arranges $61M financing for new Hyatt House hotel in Chicago

JLL arranged a $61 million refinancing for Hyatt House Fulton Market, a 200-room, newly constructed hotel in Chicago’s Fulton Market District. JLL worked on behalf of the borrower, a partnership between Sterling Bay and Wheelock Street Capital, to place the five-year, floating-rate loan with Argentic Real Estate Investments LLC. Loan proceeds will be used to retire the construction loan.

Finance N Illinois
JLL arranges nearly $30M in financing for Oak Brook office property

JLL arranges nearly $30M in financing for Oak Brook office property

JLL arranged a $29.8 million financing for 2001 York Road, a 184,525-square-foot office asset in Oak Brook, Illinois. JLL worked on behalf of the borrower, an affiliate of Pembroke IV, LLC, to secure the 36-month, floating-rate loan. The five-story office property has 33,000-square-foot average floor plates and is currently fully leased with Comcast occupying the majority of the building.

Finance N Illinois
First-of-its-kind loan fund to benefit Chicago minority small business owners

First-of-its-kind loan fund to benefit Chicago minority small business owners

Related Midwest, Magellan Development, Sterling Bay, Clayco, the Chicago Federation of Labor and Chicagoland Associated General Contractors announced the creation of a program to guarantee capital for minority- and women-owned businesses in the construction and professional services industries. This first-of-its-kind, cross-industry effort represents an innovative initiative to increase diversity and inclusion in the development and construction industry by breaking down barriers to capital for small businesses and providing financial and operation support services.

Finance N Illinois
Kimberly Brisky;SomerCor

SomerCor names new managing director of communications and engagement

Chicago-based Small Business Administration (SBA) Certified Development Company (CDC) SomerCor has hired Kimberly Brisky as managing director of communications and engagement. Brisky is a public affairs professional with extensive experience in strategic communications, media relations and external affairs. She joins SomerCor to further elevate the organization’s standing as a leading SBA lender and economic development resource.