Hff Announces $64m Refinancing for Radisson Blu Aqua Hotel, Chicago

Houston, TX.Dec 04, 2017- 

CHICAGO, IL-November 29, 2017-Holliday Fenoglio Fowler, L.P. (HFF) announces a $64 million refinancing for Radisson Blu Aqua Hotel, Chicago, a 334-room, luxury, modern hotel in downtown Chicago.

The HFF team worked on behalf of the borrower, a partnership comprising Al Rayyan Tourism Investment Company (ARTIC), Magellan Development Group and Carlson Rezidor Hotel Group, to place the 10-year, fixed-rate loan with J.P. Morgan Chase & Company. HFF will service the securitized loan, proceeds of which were used to refinance the prior first mortgage.

Completed in 2011, Radisson Blu Aqua Hotel, Chicago occupies floors four through 18 of the Aqua Tower, an 82-story mixed-use building within the award-winning Lake Shore East Development, along Lake Michigan. This hotel marked the first U.S. location for the Radisson Blu hotel brand, which is an upscale brand that currently operates in 400 properties now open or in development, in more than 110 countries. The Radisson Blu Aqua Hotel, Chicago features a state-of-the-art, 12, 000-square-foot ballroom;28, 500 square feet of meeting space;8, 000-square-foot fitness center;dedicated yoga space;a junior Olympic-sized swimming pool;indoor, two-lane lap pool;and Filini’s restaurant. The location at 221 North Columbus is proximate to the Loop financial district, Millennium Park, North Michigan Avenue and the Chicago lakefront.

The HFF debt placement team representing the borrower included managing director Danny Kaufman, senior director Jeff Bucaro and associate Nicole Aguiar.

“It was an honor to work again with the team at ARTIC, Magellan and Carlson to arrange this financing, ”Kaufman said. “Aqua Tower is landmark building in Chicago, and the Radisson Blu is one of Chicago’s trophy hotel properties.”

“Given the property’s excellent location and outsized market performance, there was very strong demand in debt markets to finance the asset, ”Bucaro added.

“We are delighted to have again worked with HFF, ”said Tarek M. El Sayed, managing director and CEO of ARTIC. “This arrangement reflects ARTIC’s commitment to financial efficiency and to finding the optimum financing solutions, so enabling ARTIC to increase the operational efficiency of our portfolio and continue to deliver our expansion strategy. We are proud to have the Radisson Blu within our U.S. investment portfolio;it is an iconic property, and we will provide our full support to ensure it maintains its leading market position. With an investment portfolio across the U.S., Europe and MENA, we will continue to examine significant opportunities for the profitable expansion of ARTIC’s international hospitality and property portfolio.”

About Al Rayyan Tourism Investment Company (ARTIC)
Established in 2003, Al Rayyan Tourism and Investment Company (ARTIC), is one of the leading investment companies engaged in real estate development, acquisition and leasing with a primary focus on the hospitality sector and hospitality-related services both in Qatar and overseas. ARTIC’s current portfolio comprises 24 hotels and projects in the MENA, Europe and North America. In addition to its hotel portfolio in prime cities around the world, ARTIC owns hospitality-related services providing cost-effective support services in a shared service model, including laundry, catering and procurement services. Visit artic.com.qa or find them on Facebook at facebook.com/ARTICQA.

About Magellan Development Group
Since its inception in 1996, Magellan Development Group has evolved as one of the most prolific and highly respected developers of large-scale mixed-use properties in Chicago. Magellan’s expertise spans the interrelated fields of real estate design, development, development consultation, architecture, leasing, sales and marketing. This strong combination enables Magellan to manage the entire development process from conception to completion. For more information, please visit magellandevelopment.com.

About Carlson Rezidor Hotel Group
Carlson Rezidor Hotel Group is one of the world’s largest and most dynamic hotel companies and includes 1, 440 locations in operation and under development with more than 230, 000 rooms and a footprint spanning 115 countries and territories. The Carlson Rezidor portfolio includes a powerful set of global brands:Quorvus Collection, Radisson Blu®, Radisson®, Radisson RED, Park Plaza®, Park Inn®by Radisson and Country Inns & Suites By Carlson SM. Guests can benefit from Club Carlson SM, a program that redefines hotel rewards with a collection of exceptional benefits, services, and privileges at more than 1, 000 hotels worldwide. Over 95, 000 people are employed in Carlson Rezidor Hotel Group hotel systems and the company is headquartered in Minneapolis, Singapore, and Brussels. For more information, visit carlsonrezidor.com and follow on Twitter @carlsonrezidor.

About HFF
HFF and its affiliates operate out of 24 offices and are a leading provider of commercial real estate and capital markets services to the global commercial real estate industry. HFF, together with its affiliates, offers clients a fully integrated capital markets platform including debt placement, investment advisory, equity placement, funds marketing, M&A and corporate advisory, loan sales and loan servicing. HFF, HFF Real Estate Limited, HFF Securities L.P. and HFF Securities Limited are owned by HFF, Inc. (NYSE:HF). For more information, please visit hfflp.com or follow HFF on Twitter @HFF.

Radisson Blu Aqua Hotel, Chicago
Media Contact:

Kristen Murphy
Director, Public Relations

About HFF

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