JLL Capital Markets recently arranged $36.8 million in construction financing for 550-566 E Colorado Blvd., a 194-key, six-story hotel development in the Playhouse District of Pasadena. A JLL team of senior managing director Marc Schillinger and senior director Matt Stewart represented the developer to secure the three-year loan with two one year extension options.
The AC Hotel by Marriott is slated for completion in 2025 and will be an ideal choice for leisure and business travelers visiting Pasadena due to its strong brand affiliation, proximity to demand generators, as well as select service product offering. Schillinger noted that it “will be the newest select service property in Pasadena and the only branded hotel in the Playhouse District” upon completion.
