Whitehall Hotel Receives $36M Loan
The owners of the Whitehall Hotel refinanced the property, thanks to a $36M loan. The ownership venture led by Hui-Hsein Bert Yen and Su-Mei Yen will use the money to pay off a $25.1M senior loan and mezzanine debt of $6.1M. The remaining money is theirs.
The 222-room hotel at 105 E Delaware Pl was appraised at $60M. The loan will be included in a CMBS offering from Deutsche Bank Securities.
The Yens made headlines earlier this week when reports surfaced they were interested in building a 29-story Hilton hotel at 1101 S Wabash in the South Loop. The Yens also own the Best Western Grant Park hotel at 1100 S Michigan. [Crain's]