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CHICAGO-The Chicago Marriott Downtown has been refinanced for $120 million, one of the largest hotel deals of the year. The financing was arranged by New York-based Sonnenblick-Goldman Co.

Details of the first mortgage deal, which involves The Carlyle Group lending to LaSalle Hotel Properties, were not released. However, Sonnenblick-Goldman managing director and principal Mark J. Gordon says, “As a result of the asset’s many attributes–physical quality, irreplaceable location, institutional quality ownership, strong performance both pre and post September 11 and strong brand affiliation–the interest we received from the capital markets was quite strong.”

The 46-story, 1,192-room hotel at 540 N. Michigan Ave. is 24 years old. It includes 55,000 sf of meeting space as well as two restaurants.

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