Hotel Acquisition - Bloomingdale, IL
$3,800,000 loan arranged by PlattPointe Capital.
BLOOMINGDALE, IL– PlattPointe Capital recently arranged $3.8M in bridge financing for the acquisition of Indian Lakes Hotel just outside of O’Hare International Airport and downtown Chicago. The 6-story, 300 key hotel is an excellent value-add property located on 14.7 acres. The sponsor plans to rehab and rebrand the property to a Hilton DoubleTree. The loan features improvement proceeds and flexible terms enabling the sponsor to execute their business plan. PlattPointe Capital was able to arrange private financing at 72% LTV of the as-is value, while structuring and closing the financing in less than 30 days.
This closing marks PlattPointe Capital’s first loan in the Chicago area. PlattPointe has expanded its coverage of the area with the addition of Tanner Johnson who is based in the Lincoln Park neighborhood of Chicago.
PlattPointe Capital LLC is a boutique commercial real estate capital advisory firm that helps developers and investors navigate the capital markets by arranging optimal alternative debt and equity options for a client’s project. Our vision is to engineer the most efficient capital stack based on the constraints of a given project and sponsor’s needs.
More information can be found at www.plattpointe.com.
For any inquiries nationwide, please contact:
Jason Aubrey | 303.598.3876 | email@example.com
Creighton Bildstein | 303.589.4258 | firstname.lastname@example.org
Matthew Biegner | 720.470.7706 | email@example.com
TRANSACTION BY THE NUMBERS
Loan to Value (LTV)