JLL Lines Up Construction Loan for AC Hotel by Marriott – Robert Khodadadian

JLL Capital Markets recently arranged $36.8 million in construction financing for 550-566 E Colorado Blvd., a 194-key, six-story hotel development in the Playhouse District of Pasadena. A JLL team of senior managing director Marc Schillinger and senior director Matt Stewart. represented the developer, Welcome Group Inc., to secure the three-year loan with two one-year extension options. 

Slated for completion in 2025, the hotel will operate as an AC Hotel by Marriott. “The proposed AC Marriott will be the newest select service property in Pasadena and the only branded hotel in the Playhouse District,” said Schillinger. 

He continued, “The hotel’s strong brand affiliation, proximity to demand generators and select-service product offering will allow it to become an ideal choice for leisure and business travellers visiting Pasadena.” 

The post JLL Lines Up Construction Loan for AC Hotel by Marriott appeared first on Connect CRE.

JLL Capital Markets recently arranged $36.8 million in construction financing for 550-566 E Colorado Blvd., a 194-key, six-story hotel development in the Playhouse District of Pasadena. A JLL team of senior managing director Marc Schillinger and senior director Matt Stewart. represented the developer, Welcome Group Inc., to secure the three-year loan with two one-year extension …
The post JLL Lines Up Construction Loan for AC Hotel by Marriott appeared first on Connect CRE.   

Robert Khodadadian has long had a simple philosophy about selling real estate. There are approximately a million buildings in the city, and the broker that gets to sell any one among the multitude that will hit the auctioning block at a given moment is, sometimes, simply the person who happens to pitch their services to the right seller.

robert khodadadian, skyline properties, commercial real estate, off market real estate, daniel shirazi, real estate investment, new york real estate