JLL’s Hotels & Hospitality group arranged the sale of a mezzanine loan for a four-property portfolio of hotels, totaling 1,228 guestrooms and consisting of the Club Quarters Boston, Club Quarters Chicago Central Loop, Club Quarters Philadelphia and Club Quarters San Francisco.
JLL procured Masterworks Development as the buyer.
This geographically diverse set of hotels is located in the largest U.S. hotel markets including Boston, Chicago, Philadelphia and San Francisco. Each of the properties is situated in irreplaceable, city-center locations in their respective central business districts and are surrounded by numerous corporate and leisure demand drivers, the company reports.
Founded in 1994, Club Quarters is an upper-upscale, full-service hotel owner and operator. There are currently 15 Club Quarters hotels comprising 4,080 rooms located in major metropolitan markets across the United States and United Kingdom.
The JLL team was led by Hotels & Hospitality group Americas CEO Kevin Davis and SVP Barnett Wu.
