Business & Finance

$110 Million Sale of Hyatt Centric The Loop Chicago Hotel Announced by HFF

CHICAGO, IL. September 14, 2017 – Holliday Fenoglio Fowler, L.P. (HFF) announces the $110 million sale of Hyatt Centric The Loop Chicago, a 257-room, full-service hotel in the Central Loop area of Chicago, Illinois.

The HFF team marketed the property on behalf of the seller, an affiliate of Murphy Development Group. Deka Immobilien purchased the asset.

Developed in 2015 by the seller, the 22-story Art Deco Hyatt Centric The Loop Chicago features the AIRE seasonal rooftop bar with panoramic city views, Cochon Volant restaurant and bakery, The Corner cafe, 24-hour fitness center, 2,500 square feet of event space, business center and pet-friendly accommodations. Situated at 100 West Monroe Street, the hotel is centrally located in Chicago’s Loop in the heart of the financial district and within walking distance to transportation, restaurants, shopping and entertainment.

The HFF investment sales team representing the seller included senior managing directors Jaime Fink and Jeffrey Bramson, senior director Jeff Bucaro and associate Nicole Aguiar.

“Jaime Fink and the HFF team did an exceptional job in developing a unique structured transaction which proved to successfully meet the business objectives of both buyer and seller,” said John Murphy of Murphy Development Group. “We are satisfied with the results and look forward to our long-term engagement with Deka Bank.”

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 sales, equity placement, funds marketing, M&A and corporate advisory, loan sales and loan servicing. Holliday Fenoglio Fowler, L.P., HFF Real Estate Limited (collectively, “HFF”), HFF Securities L.P. and HFF Securities Limited (collectively, “HFFS”) are owned by HFF, Inc. (NYSE: HF). For more information please visit hfflp.com or follow HFF on Twitter @HFF.

Coming Up In The November Online Hotel Business Review




{300x250.media}
Feature Focus
Architecture & Design: Authentic, Interactive and Immersive
If there is one dominant trend in the field of hotel architecture and design, it’s that travelers are demanding authentic, immersive and interactive experiences. This is especially true for Millennials but Baby Boomers are seeking out meaningful experiences as well. As a result, the development of immersive travel experiences - winery resorts, culinary resorts, resorts geared toward specific sports enthusiasts - will continue to expand. Another kind of immersive experience is an urban resort – one that provides all the elements you'd expect in a luxury resort, but urbanized. The urban resort hotel is designed as a staging area where the city itself provides all the amenities, and the hotel functions as a kind of sophisticated concierge service. Another trend is a re-thinking of the hotel lobby, which has evolved into an active social hub with flexible spaces for work and play, featuring cafe?s, bars, libraries, computer stations, game rooms, and more. The goal is to make this area as interactive as possible and to bring people together, making the space less of a traditional hotel lobby and more of a contemporary gathering place. This emphasis on the lobby has also had an associated effect on the size of hotel rooms – they are getting smaller. Since most activities are designed to take place in the lobby, there is less time spent in rooms which justifies their smaller design. Finally, the wellness and ecology movements are also having a major impact on design. The industry is actively adopting standards so that new structures are not only environmentally sustainable, but also promote optimum health and well- being for the travelers who will inhabit them. These are a few of the current trends in the fields of hotel architecture and design that will be examined in the November issue of the Hotel Business Review.