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Chicago

Bixby Bridge Capital secures $31M loan on Kinzie Hotel

The investor terminated its mortgage in April with Deutsche Bank on the 215-key River North inn

Bixby managing principal David Colburn and the Kinzie Hotel
Bixby managing principal David Colburn and the Kinzie Hotel

Bixby Bridge Capital refinanced its Kinzie Hotel with a $30.5 million loan from Annaly, two months after terminating its mortgage with Deutsche Bank.

The investor, based in suburban Northbrook, also holds a $34.5 million mortgage from Citigroup Global Markets Realty on the 215-key boutique hotel, which occupies the first six stories of a 17-story office tower anchored by WeWork at 20 West Kinzie Street.

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Bixby Bridge Capital lists 28 global properties in its portfolio, including 25 luxury apartments at 70 East Walton Street on the Magnificent Mile.

A company spokesperson declined to comment on the loan.

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River North