Walker & Dunlop arranged $92 million to refinance the Hiltons at McCormick Place, a 23-story, 466-key tri-branded hotel connected to the McCormick Place Convention Center in Chicago, Illinois.
Walker & Dunlop New York Capital Markets, led by Aaron Appel, Jonathan Schwartz, Adam Schwartz, Keith Kurland, Dustin Stolly, Jordan Casella, and Cole Grims, arranged the loan on behalf of McHugh Enterprises, Inc. and First Investors, LLC. Access Point Financial Inc. provided the capital for the floating-rate, interest-only loan. Jay Morrow and Carter Gradwell of Walker & Dunlop Hospitality partnered alongside the Capital Markets team to advise McHugh Enterprises Inc. and First Investors, LLC throughout the process.
The Hiltons at McCormick Place is the first and only tri-branded Hilton select-service property in the United States, combining Hilton Garden Inn, Hampton Inn, and Home2 Suites offerings. Situated in Chicago’s South Loop, the property is adjacent to and connected with McCormick Place, the largest convention center in North America and the Western Hemisphere.
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