Goldman Provides $265M Loan for Marriott

CHICAGO—Sonnenblick-Eichner Company has just arranged a $265 million loan for the 610-room JW Marriott Chicago, located downtown at 151 W. Adams St. The hotel was opened in late 2010 by a group headed by Chicago developer Michael Reschke and is part of a 1.1-million-square-foot mixed-use building that occupies a full city block. Officials from the Beverly Hills, CA-based real estate investment banking firm say the non-recourse, LIBOR-based floating rate loan came from a Wall Street investment bank. Commercial Real Estate Direct reports the bank was Goldman Sachs.

“The capital markets remain tremendously liquid for quality real estate transactions, as indicated by the interest we received from multiple lenders who had the desire to make this large single asset loan,” says David Sonnenblick, a principal of Sonnenblick-Eichner.