{"id":1004188084,"date":"2017-08-23T05:15:13","date_gmt":"2017-08-23T13:15:13","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004188084"},"modified":"2022-12-08T01:25:34","modified_gmt":"2022-12-08T09:25:34","slug":"jw-marriott-chicago-lands-270-natixis-refi","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/jw-marriott-chicago-lands-270-natixis-refi\/","title":{"rendered":"JW Marriott Chicago Lands $270M Natixis Refi"},"content":{"rendered":"<p>By Gail Kalinoski<\/p>\n<div id=\"attachment_1004188089\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/08\/JWMarriott_ChicagoLoop-e1503493700244.jpg\" target=\"_blank\" rel=\"noopener noreferrer\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004188089\" data-attachment-id=\"1004188089\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/jw-marriott-chicago-lands-270-natixis-refi\/jwmarriott_chicagoloop\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/08\/JWMarriott_ChicagoLoop-e1503493700244.jpg\" data-orig-size=\"711,534\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"JW Marriott Chicago Loop\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;JW Marriott Chicago Loop&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/08\/JWMarriott_ChicagoLoop-e1503493700244.jpg?w=711\" class=\"wp-image-1004188089 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/08\/JWMarriott_ChicagoLoop-e1503493700244.jpg\" alt=\"JW Marriott Chicago Loop\" width=\"300\" height=\"225\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/08\/JWMarriott_ChicagoLoop-e1503493700244.jpg 711w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/08\/JWMarriott_ChicagoLoop-e1503493700244.jpg?resize=300,225 300w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004188089\" class=\"wp-caption-text\">JW Marriott Chicago<\/p><\/div>\n<p>Nearly seven years after opening in the former Continental &amp; Commercial National Bank Building in Chicago\u2019s downtown Loop, the JW Marriott Chicago Hotel has been refinanced with a $270 million loan provided by Natixis, a French corporate and investment bank.<\/p>\n<p>The owners opened the premier luxury hotel at 151 W. Adams St. in the heart of the financial district in November 2010 following a $396 million restoration. Designed by noted architect Daniel Burnham in the early 1900s, the first 12 floors of the former bank building were transformed into a 610-key luxury hotel. The JW Marriott Chicago features 45,000 square feet of meeting space, including 36 meeting rooms and an 8,500-square-foot grand ballroom. Other amenities include The Florentine Italian restaurant and a 20,000 square-foot spa, wellness and fitness center.<\/p>\n<p>More than 3,000 new hotel rooms are expected to come online in Chicago this year, including the Marriott Marquis, which is slated for a September opening at McCormick Place and will have over 1,200 rooms. Marcus &amp; Millichap\u2019s <em>2017 U.S. Hospitality Investment Forecast<\/em> noted there will be pressure on RevPAR for Chicago metro area hotels this year because of the additional rooms. However, a projected increase in convention attendance, crucial to the city\u2019s hotel scene, <em>\u201cwill help absorb the new supply,\u201d<\/em> according to the report.<\/p>\n<p>Danny Kaufman and Jeff Bucaro of HFF arranged the five-year, fixed-rate loan for a subsidiary of UST XIX 208 S LaSalle, a German real estate fund managed by affiliates of Estein USA based in Orlando, Fla.<\/p>\n<h2>Natixis deals<\/h2>\n<p>Natixis, the international corporate, asset management, insurance and financial services arm of Groupe BPCE, the second-largest banking group in France, has been active in recent months in the U.S.<\/p>\n<p>In nearby Arlington, Ill., Natixis provided a $35 million loan to an institutional investor in June for the acquisition of NorthPoint Center, a 276,333-square-foot retail center. Major tenants in the 38-unit retail center include Jewel Osco, Ross Dress for Less and Marshalls.<\/p>\n<p>In New York City, Natixis collaborated with Ivanho\u00e9 Cambridge and Callahan Capital Properties to issue a $72 million <a href=\"https:\/\/www.commercialsearch.com\/news\/natixis-facilitates-first-green-bond-cmbs\/\">green tranche in a CMBS<\/a>\u00a0to refinance part of the acquisition loan for 85 Broad St. in Downtown Manhattan. The green-specific tranche was part of a $358.6 million fixed-rate, first mortgage loan provided by Natixis in the spring to purchase the 1.1 million square-foot office tower in the Financial District.<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The 610-key luxury hotel, which opened seven years ago, is located in the former Continental &amp; Commercial National Bank Building in the city&#8217;s downtown Loop.<\/p>\n","protected":false},"author":1068,"featured_media":1004188089,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1491,21808,21825,21751,13,21742],"tags":[32792,37064,34029],"class_list":["post-1004188084","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-chicago","category-featured","category-finance","category-hotel","category-midwest","category-latest","tag-hff","tag-jw-marriott","tag-natixis"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>JW Marriott Chicago Lands $270M Natixis Refi - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/jw-marriott-chicago-lands-270-natixis-refi\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"JW Marriott Chicago Lands $270M Natixis Refi\" \/>\n<meta property=\"og:description\" content=\"The 610-key luxury hotel, which opened seven years ago, is located in the former Continental &amp; Commercial National Bank Building in the city&#039;s downtown Loop.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/jw-marriott-chicago-lands-270-natixis-refi\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2017-08-23T13:15:13+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-08T09:25:34+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/08\/JWMarriott_ChicagoLoop-e1503493700244.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"711\" \/>\n\t<meta property=\"og:image:height\" content=\"534\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Gail Kalinoski\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/jw-marriott-chicago-lands-270-natixis-refi\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/jw-marriott-chicago-lands-270-natixis-refi\/\",\"name\":\"JW Marriott Chicago Lands $270M Natixis Refi - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/jw-marriott-chicago-lands-270-natixis-refi\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/jw-marriott-chicago-lands-270-natixis-refi\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/08\/JWMarriott_ChicagoLoop-e1503493700244.jpg\",\"datePublished\":\"2017-08-23T13:15:13+00:00\",\"dateModified\":\"2022-12-08T09:25:34+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/fc5b5df1393e5023d2417bd48c2fda57\"},\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/jw-marriott-chicago-lands-270-natixis-refi\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/jw-marriott-chicago-lands-270-natixis-refi\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/jw-marriott-chicago-lands-270-natixis-refi\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/08\/JWMarriott_ChicagoLoop-e1503493700244.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/08\/JWMarriott_ChicagoLoop-e1503493700244.jpg\",\"width\":711,\"height\":534,\"caption\":\"JW Marriott Chicago Loop\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/jw-marriott-chicago-lands-270-natixis-refi\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.commercialsearch.com\/news\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"JW Marriott Chicago Lands $270M Natixis Refi\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/\",\"name\":\"Commercial Property Executive\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/fc5b5df1393e5023d2417bd48c2fda57\",\"name\":\"Gail Kalinoski\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/04\/Gail-Kalinoski-headshot.jpeg?w=86\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/04\/Gail-Kalinoski-headshot.jpeg?w=86\",\"caption\":\"Gail Kalinoski\"},\"description\":\"Kalinoski has been a contributing writer to Commercial Property Executive and Multi-Housing News since 2010 and previously wrote for three years for Commercial Property News. 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