HREC Brokers IL Embassy Suites Sale
A joint venture between Hotel Capital and ORIX Real Estate Americas purchased the 209-key, recently renovated asset in an off-market transaction.
By Roxana Baiceanu
Embassy Suites Hotel in Schaumburg, Ill.
HREC Investment Advisors has arranged the sale of the 209-key Embassy Suites Hotel in Schaumburg, Ill. The off-market transaction closed between a joint venture made up of Hotel Capital and ORIX Real Estate Americas, the seller, and Pearlshire Capital Group, the buyer.
The property has been recently renovated, offering a business center, meeting room space, fitness room, pool and free made-to-order breakfast. Located at 1939 N. Meacham Road, the asset is less than 10 miles from Chicago O’Hare International Airport and close to Interstate 90.
Convenient location
The hotel offers convenient access to the offices of several large corporations, as well as a number of local attractions. Across the street is Zurich North America, while the Motorola Solutions campus is within walking distance. Visitors will also have convenient access to Woodfield Mall, the largest shopping mall in Illinois, featuring 2.2 million square feet of retail space, LEGOLAND Discovery Center, Schaumburg Convention Center, Golf Club and Academy.
HREC Chicago Senior Vice President Scott Kaniewski represented the seller in the deal. HREC has been specializing in transactions involving hospitality assets near major shopping malls. In March, the company closed the sale of an 82-key Quality Inn Hotel in Albany, adjacent to the 900,000-square-foot Albany Mall.
Image via Google Street View
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