CHICAGO-Oxford Capital Group LLC of Chicago is partnering with Cube Capital, an overseas investment firm, to complete a deferred hotel project in River North. Originally considered as a Staybridge Suites, the independent hotel with 221 rooms is scheduled to be opened next year as the Godfrey Hotel.
Earlier this year, Oxford assumed control over the property after purchasing a defaulted construction loan on the development and working out a deed-in-lieu of foreclosure with the project's developer, a venture headed by Duke Miglin. For the full story, go to Crain's Chicago Business .
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