O'Hare Area Doubletree Mortgaged for $29M

ROSEMONT, IL-The loan from GMAC Commercial Mortgage Corp. helps Los Angeles-based Lowe Enterprises recoup its costs of acquiring the 369-room hotel at 5460 N. River Rd.

By Mark Ruda | February 03, 2005 at 07:13 AM

The loan was arranged by GMAC Commercial Mortgage's hospitality industry division, one of its specialized lending units.

In an unrelated deal in the market, GMAC Commercial Mortgage Corp. arranged a $4.4-million loan against Fox River Grove Plaza, which includes a 14,488-sf building leased to Walgreens and a 5,595-sf multi-tenant retail building in that northwest suburb. "GMACCM has a longtime relationship with the borrower," says assistant branch manager Stuart L. Greenberg.

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