Thorofare Capital has funded a $6,790,000 fixed-rate bridge loan for the leasehold acquisition the Hyatt Rosemont, a 206-key hospitality asset located in Chicago, Illinois. The sponsor’s plan is to refinance Thorofare’s bridge loan with permanent financing upon stabilization.

The Hyatt Rosemont is in the O’Hare submarket of Rosemont, IL. This pocket of Rosemont is considered a strong hospitality submarket due to strong demand generators such as the O’Hare International Airport, Donald E. Stephens Convention Center, the Rosemont Theatre, and the Allstate Arena. The hotel is well amenitized, featuring a total of 7,600 SF of meeting space, a restaurant, a 24-hour fitness center, a business center, a gift shop, and guest laundry.

The Sponsor is a group of investors based out of Chicago who focus on acquiring value-add hospitality properties primarily in Illinois. The company currently owns and manages over 18 hotels, totaling 2,134 keys, throughout Illinois, Texas, North Carolina, Wisconsin, and Missouri.