July 22, 2020
CBRE Hotels acted as advisor for the seller on the recent sale of the Marriott Chicago Northwest located in Hoffman Estates, IL. The 295-room hotel was acquired by Hoffman Estates Hotel Group, LLC, particularly through the efforts of brothers Harry and Alex Ghoman, of the Indianapolis-based Ghoman Group.
The Ghomans plan substantial renovations to the property, which they acquired for an undisclosed sum. Eric Belfrage of CBRE said, “The renovated Marriott will be conducive to improved sports, social, and small-group gatherings, as well as present an elevated leisure and corporate offering.”
Belfrage and John Karver of CBRE Hotels acted as the exclusive agent for the seller.
Mag Mile Capital’s Rushi Shah and Prabhat Jayara completed an interest-only bridge loan to finance the acquisition. They placed the deal with a real estate private lender after the original lender cancelled all in-process deals as the COVID-19 pandemic ensued.
For comments, questions or concerns, please contact Paul Bubny