$23.2M construction loan finances Hyatt in East Moline

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HALL Stuctured Finance announced the company has closed a lien construction loan totaling $23.2 million to finance the development of a dual-flagged, 233-room Hyatt House and Hyatt Place hotel in East Moline, Illinois. The hotel will be the first dual-concept from Hyatt and will be a prototype for future developments. The 9-story, 233-room hotel will…

HALL Stuctured Finance announced the company has closed a lien construction loan totaling $23.2 million to finance the development of a dual-flagged, 233-room Hyatt House and Hyatt Place hotel in East Moline, Illinois.

The hotel will be the first dual-concept from Hyatt and will be a prototype for future developments.

The 9-story, 233-room hotel will feature 134 uspscale Hyatt Place rooms and 99 all-suite extended-stay Hyatt House rooms. The 132-acre site will be developed into a mixed-use property in two phases. The property will include a new hotel, 324 multi-family units, a public park, two restaurants and four retail sites. A 60-mile jogging and biking trail also runs near the hotel.

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