CHICAGO – April 6, 2016 – CBRE Hotels announced Metro Commons Hospitality sold the 135-room Holiday Inn Express & Suites Chicago West to a private buyer.
Nate Sahn, Brian Silberman, Stanley Wang and Scott Miller of CBRE Hotels in Chicago represented Metro Commons Hospitality in the sale of the Holiday Inn Express & Suites Chicago West located at 200 South Mannheim Road in Hillside, Ill. Jonathan Rice and Mohsin Azmi of CBRE Hotels’ Debt & Structured Finance team arranged the financing.
“Following the purchase, the hotel will be renovated to the new Intercontinental Hotel Group (parent company of Holiday Inn Express) standards,” said Silberman, Vice President of CBRE Hotels. “The new owner, who already owns Holiday Inn Express hotels in the Midwest, is very excited to continue the excellent customer service and high standards that has seen the hotel rated #1 in Hillside on TripAdvisor.”
With a population of over 8,000, Hillside is located just 13 miles of downtown Chicago, nine miles from Chicago O’Hare International Airport and 12 miles from Midway Airport.
“We were very pleased to work with the new ownership group to arrange financing for this transaction. They will be well positioned and capitalized to take this already great hotel to the next level with IHG’s new Formula Blue brand package,” said Rice, Senior Vice President on CBRE’s Capital Markets Debt & Structured Finance team in Atlanta, Ga.
CBRE Hotels is a specialized advisory group within CBRE providing brokerage, valuation and capital markets services to companies in the hotel sector. CBRE Hotels is comprised of over 385 dedicated hospitality professionals located in 60 offices across the globe. For more information please visit our website at www.cbrehotels.com.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (in terms of 2015 revenue). The Company has more than 70,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 400 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. Please visit our website at www.cbre.com.
