June 10, 2019
Chicago-based Syndicated Equities Group recently completed its preferred equity investment for the acquisition of the Hilton DoubleTree and Embassy Suites hotels in Rosemont, IL. Deal terms weren’t disclosed.
The properties are adjacent to one another along River Road, the primary artery serving Rosemont’s entertainment, office and shopping districts, and are approximately one mile from O’Hare International Airport. The Embassy Suites underwent renovations in 2017. As part of the acquisition, new franchise agreements were secured with Hilton.
Syndicated Equities acquired the property in a joint venture alongside Nath Companies, a Bloomington, MN-based owner and operator of hotels, restaurants, and multifamily assets throughout the Midwest. Nath will serve as the property and asset manager.
Nath made its Chicago-area hospitality debut two years ago when it acquired the Renaissance Chicago North Shore in Northbrook from USAA Real Estate for $30 milion, according to Crain’s Chicago Business.
Pictured: DoubleTree Rosemont
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