Hawkins Way Capital has successfully secured a $5.225 million refinancing loan for its Found Chicago hotel, which is operated by Sonder. The lender for this transaction was Symetra Life Insurance Company and the loan was brokered by Meridian Capital Group. This funding will support the ongoing operations of the 60-key hotel.
Originally built in the 1910s as the historic Olympia Building, Hawkins Way purchased this property in 2016 and has since leased it to publicly traded short-term rental company Sonder. Located in River North, this property boasts 60 guest rooms as well as various amenities such as a restaurant, cafe, and speakeasy-style bar spanning over 25,000 square feet.
In addition to its current leasing arrangement with Sonder, Hawkins Way plans to self-manage the property moving forward. With offices in Los Angeles and New York City , Hawkins Way is a vertically integrated real estate company with an impressive portfolio of assets worth over $2.5 billion under management.
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