RobertDouglas has arranged senior debt financing on behalf of Murphy Real Estate Services for the refinancing of the 199-key Cambria Hotel Chicago Loop – Theatre District.
The loan was provided by a national institutional lender; terms were not disclosed. The refinancing replaces the Illinois property’s original construction loan with a new senior debt structure aimed at optimizing leverage and enhancing long-term flexibility.
The hotel occupies the top 19 floors of the historic 22-story New Masonic Office Building in downtown Chicago. Following Murphy Development Group’s $65 million adaptive-reuse project, the upper floors were converted into a lifestyle hotel situated above the James M. Nederlander Theatre.
“Capital continues to pursue top-tier hospitality assets in gateway urban markets where fundamentals remain durable and barriers to entry are high,” Matthew Dower, managing director at New York-based RobertDouglas, said in a statement. “This financing reflects ongoing lender appetite for well-located, institutional-quality hotels with strong sponsorship and performance.”