**JLL Secures Refinancing for River North Hotel Portfolio in Chicago**
JLL has successfully arranged the refinancing of a dual-branded hotel portfolio located in Chicago’s River North neighborhood, supporting the owners’ ongoing capital planning and strategic operations.
The refinancing was secured on behalf of a joint venture between Friedman Properties and White Lodging. The fixed-rate, five-year loan was provided by PGIM Real Estate’s lending platform. The JLL Debt Advisory team involved in the transaction included Senior Managing Director Danny Kaufman, Managing Director Jeffrey Bucaro, and Analyst Malia Buljat.
The portfolio is comprised of two Marriott-affiliated hotels: the 270-key Residence Inn River North and the 253-key SpringHill Suites River North. Together, these properties account for a total of 523 guestrooms and are located at 410 North Dearborn Street.
Both hotels completed full guestroom renovations in April 2025, with updates to public spaces and meeting rooms expected to be finalized by February 2026.
“Chicago’s lodging market fundamentals continue to strengthen, driven by the city’s diversified economy and growing tourism base,” said Danny Kaufman of JLL.
This refinancing initiative reinforces long-term investment confidence in Chicago’s hospitality sector and signals continued momentum for the River North submarket.
