As exclusive advisor, RobertDouglas has refinanced the Ivy Hotel Chicago. The company secured $12 million of floating-rate bridge loan financing from an institutional lender.
Located in Chicago’s Streeterville neighborhood, the 63-key, 16-story boutique hotel features 675-sq.-ft. suites and 315-sq.-ft. guestrooms, as well as the Sky Terrace rooftop.
Stephen O’Connor, principal/managing director, RobertDouglas said, “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 refinancing and expect this trend to continue.”
Matthew Dower, a managing director in the firm’s Chicago office, added, “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.”
