NEW YORK—JLL’s Hotels & Hospitality Group announced that it arranged the sale of a mezzanine loan for a four-property portfolio of hotels totaling 1,228 guestrooms and consisting of the Club Quarters Boston, Club Quarters Chicago Central Loop, Club Quarters Philadelphia, and Club Quarters San Francisco.
JLL procured Masterworks Development as the buyer.
This geographically diverse set of hotels is located in large U.S. hotel markets including Boston, Chicago, Philadelphia, and San Francisco. Each of the properties is situated in city-center locations in their respective central business districts and are surrounded by corporate and leisure demand drivers.
Founded in 1994, Club Quarters is an upper-upscale, full-service hotel owner and operator. The brand’s model is complemented by its business operations. There are currently 15 Club Quarters hotels comprising 4,080 rooms located in major metropolitan markets across the United States and the United Kingdom.
The JLL team was led by Hotels & Hospitality Group Americas CEO Kevin Davis and Senior Vice President Barnett Wu.
