JLL’s Hotels & Hospitality group announced today that it arranged the sale of a mezzanine loan for a four-property portfolio of hotels, totaling 1,228 guestrooms and consisting of the Club Quarters Boston, Club Quarters Chicago Central Loop, Club Quarters Philadelphia and Club Quarters San Francisco.
JLL procured Masterworks Development as the buyer.
This geographically diverse set of hotels are located in the largest US hotel markets including Boston, Chicago, Philadelphia and San Francisco. Each of the properties is situated in irreplaceable, city-center locations in their respective central business districts and are surrounded by numerous corporate and leisure demand drivers.
Founded in 1994, Club Quarters is an upper-upscale, full-service hotel owner and operator. The Club Quarters management team are recognized within the community as ethical, long-term relationships operators. The brand’s model is complemented by the efficiency of its business operations. There are currently 15 Club Quarters hotels comprising 4,080 rooms located in major metropolitan markets across the United States and United Kingdom.
The JLL team was led by Hotels & Hospitality group Americas CEO Kevin Davis and Senior Vice President Barnett Wu.
JLL’s Hotels & Hospitality Group has completed more transactions than any other hotels and hospitality real estate advisor over the last five years, totalling $83 billion worldwide. The group’s 370-strong global team in over 20 countries also closed more than 7,350 advisory, valuation and asset management assignments. Our hotel valuation, brokerage, asset management and consultancy services have helped more hotel investors, owners and operators achieve high returns on their assets than any other real estate advisor in the world.
For more news, videos and research resources, please visit JLL’s newsroom.
