Natixis Finances $270 Million Fixed-Rate Loan on JW Marriott Chicago
Natixis provided a $270.0 million 5-year, fixed-rate loan to a subsidiary of UST XIX 208 S LaSalle, a German real estate investment fund managed by affiliates of Estein USA based in Orlando, Florida. The loan was made to refinance the JW Marriott Chicago, a premier luxury hotel located within in the Loop of Downtown Chicago.
Originally, the property served as the Continental & Commercial National Bank Building, designed by noted architect Daniel Burnham, in the early 1900s. The first 12 floors of the building were transformed into a 610-room luxury hotel in 2010. The JW Marriott Chicago features 45,000 sf of meeting space, a 20,000 sf world-class spa and fitness center and a full service seasonal Italian restaurant.
The financing was arranged by Danny Kaufman and Jeff Bucaro of HFF in Chicago.