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“Hyatt's departure presented a once-in-a-generation opportunity to diversify our customer community and welcome a modern array of companies across industries and sectors,” says Greg Tait, senior leasing director for Irvine Company Office Properties' Chicago portfolio.
“Westmount is bullish on the Midwest industrial market,” says Clifford Booth, president and CEO of Westmount. “We're actively seeking value-add and opportunistic investments in select markets across the US.”
The new dual-branded Hilton Garden Inn/Homewood Suites by Hilton Chicago Downtown South Loop hotel began construction in 2016 is slated to be completed this spring—mid-March-mid-April.
Glinn, based in Chicago, is spearheading efforts to expand the company's construction projects at US airports, including work directly for the airports, with air carriers, and with specialty aviation contractors.
"Patient, flexible, risk-tolerant capital can fill a gap in the financing marketplace, help revitalize neighborhoods, and create opportunities for individuals and families to improve their lives,” says Benefit Chicago executive director Dr. William W. Towns.
“By year-end 2018, Chicago hotels are forecast to see a RevPAR increase of 4.1%," says Mark Eble, managing director and Chicago practice leader for CBRE Hotels Advisory.
"Most of the value-add product still has a demonstrable gap to the newer product, allowing for these opportunities to invest in improvements,” says CBRE's Ted Abramson.