Holliday Fenoglio Fowler, L.P. (HFF) secured $25 million in acquisition financing for the Hyatt Regency Woodfield, a 468-room, full-service hotel located in the Schaumburg, Illinois.
HFF worked on behalf of the borrower, a partnership between T2 Capital Management, LLC, First Equity Group and Aimbridge Hospitality, LLC, to secure floating-rate financing through MidCap Financial LLC.
Loan proceeds were used to acquire the property. Additional private capital will be deployed by ownership for peripheral development of the 15-acre site, including additional freestanding, fine-dining restaurants and a build-to-suit office building with state-of-the art amenities.
The five-story Hyatt Regency Woodfield underwent extensive renovations in 2009.
The property features the Fresh 1800 Restaurant and Bar, Starbucks Coffee Bar, Hyatt Lounge for Hyatt Gold Passport members, indoor and outdoor pools, 24-hour fitness club and more than 30,000 square feet of meeting space, including an outdoor terrace.
Located at 1800 East Golf Road in Schaumburg, the Hyatt is directly across the street from the main entrance to Woodfield Mall, the largest shopping center in Illinois and one of the 10 largest enclosed malls in the U.S.
With more than 2.2 million square feet of restaurant, retail and entertainment space and 27 million annual visitors, Woodfield Mall is one of the top destinations for travelers in the nation.
Just off Interstate 90, the property is situated 14 miles from O’Hare International Airport and 22 miles from downtown Chicago.
Christopher Carroll, managing director at HFF led the firm’s debt placement team representing the borrower.
