HOLIDAY INN NOTE
HOLIDAY INN NOTE | EVANSTON, IL | Debt | 112,072 SF
ACQUIRED MARCH 2022 $22.0M UPB
Holiday Inn Evanston is a non-performing loan secured by a 159 room Holiday Inn located within walking distance of Northwestern University in the greater Chicago MSA. The loan was purchased off-market from a debt fund, wherein DIG’s relationship and previous loan purchase history with the fund was integral in sourcing, securing, and closing on the loan transaction. DIG expects to work with the Borrower as they turn the asset around as the travel restrictions associated with the COVID-19 pandemic ease. DIG expects the Borrower to payoff the loan via a refinance or sale within 12-18 months from acquisition.