45 Edition 2020 FINAL

20
45th | Vol 30 | 2020 | www.hotelier-indonesia.com
HOT BUSINESS
Access Point Financial Provides $11M in Financing for Sheraton
Chicago Northbrook Renovation
Recognized leader in hospitalityfocused
lending steps in to assist with
the continued repositioning of the
Sheraton brand with Chicago hotel
update
CHICAGO - March 12, 2020 - Access
Point Financial, LLC (APF), a leading
direct lender and specialty finance
company focused exclusively on the
hospitality industry, today announced
the completion of an agreement with
a Chicago-based ownership group to
provide $11 million in financing for
the renovation of the Sheraton Chicago
Northbrook Hotel. The Sheraton
Chicago Northbrook Hotel opened in
2008, and is located in Northbrook,
Illinois, a suburb of Chicago. The
161-room hotel selected Access Point
Financial for financing in order to fund
a recapitalization and renovation of the
entire property as part of Marriott’s
ongoing improvement of the entire
Sheraton brand. The update is expected
to commence over the next several
months.
The borrower acquired the property in
late 2019. Access Point Financial was
able to fund the hotel’s renovation due
to the organization’s accommodating
and flexible loan structure, as well
as its extensive knowledge and
understanding of the hotel industry.
Aimbridge Hospitality will continue
to manage the property following the
renovation.
“The Sheraton Chicago Northbrook
is well-positioned in the market and
is located five miles from Chicago
Botanical Gardens and nine miles from
Northwestern University.
This is an ideal property for the area,
and we are excited to be included in
its reimaging. The Sheraton brand is
making great strides as it modernizes
itself, and we think this property
will benefit greatly from an infusion
of capital and creativity,” said
Matthew Hick, Director of Business
Development at Access Point Financial.
For more information on Access Point
Financial’s comprehensive portfolio of
hospitality-focused financial services,
Please visit www.accesspointfinancial.
com.
About Access Point Financial |
Founded in 2011, Atlanta-based Access
Point Financial, Inc. (APF) is a direct,
full-service specialty lender focused on
the hospitality industry, offering a fullservice
lending & advisory platform
that provides financing to qualified
hotel franchisees of all major brands
and independent boutique hotels
throughout the United States & Canada.
For additional information, please visit
www.accesspointfinancial.com