As exclusive advisor, RobertDouglas announced today that it successfully refinanced the Ivy Hotel Chicago in the heart of Chicago's famed Magnificent Mile. RobertDouglas secured $12,000,000 of floating-rate bridge loan financing at highly attractive pricing from an institutional lender.
Located in Chicago's Streeterville neighborhood, the 63-key, 16-story boutique hotel features well-appointed 675 s.f. spacious suites and large 315 s.f. guestrooms and floor-to-ceiling windows. Locally the Ivy Hotel is further known for having the popular Sky Terrace roof top available to guests, the public and for private events, offering patrons panoramic views of the city's stunning skyline.
Stephen O'Connor, RobertDouglas Principal & Managing Director, commented, "The Ivy Hotel Chicago is an irreplaceable asset with strong operations in Chicago's famed Magnificent Mile. As Chicago's tourism, spending, and lodging demand continue to rebound impressively post-pandemic, the Hotel is well-positioned to achieve further success. We are encouraged by the success of this re-financing and expect this trend to continue."
Matthew Dower, a Managing Director in the firm's Chicago office, commented, "The successful refinancing of this amazing asset is further attributable to an experienced and talented ownership group that has a generational commitment to the Chicago market."
