CHICAGO-J. P. Morgan Chase & Co. has provided a $145-million loan to Chicago-based Strategic Hotels & Resorts Inc. The loan will replace a $121-million mortgage that was about to mature in October on the InterContinental Chicago, a 792-room hotel located at 505 N. Michigan Ave.
Strategic Hotels said that the refinancing will help the company to revise its balance sheet. The 10-year loan comes with a 5.61% interest rate. For the full story, go to Crain's Chicago Business .
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