The exterior view of Embassy Suites by Hilton Chicago Naperville. Credit: Civitas Capital Group/PRNewswire.

Dallas-based alternative investment manager Civitas Capital Group has closed a senior loan on the Embassy Suites by Hilton Chicago Naperville hotel in Naperville, Illinois.

This loan amount will be used for refinancing an existing loan on behalf of the owner, which is a joint venture between Brookfield Reinsurance/ANICO and Superhost Hospitality.

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The 168-key, all-suite hotel was developed by Superhost in 2015.

This full-service hotel caters to both business and leisure travellers.

Located off the I-88 corridor, Naperville is known as the Illinois Technology and Research Corridor, an economic hub home to the headquarters and regional offices of several businesses.

Besides providing easy access to the city’s important employers, the hotel is located at Freedom Plaza, a premier location that features top restaurants and bars, and close to attractions such as Naperville Riverwalk, Naper Settlement, Morton Arboretum, and Centennial Beach.

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Lodging Investments vice president Melanie Pugmire said: “The Naperville Embassy Suites loan perfectly aligns with a key strategy of ours.

“Our Lodging team looks to invest in high-quality, globally branded, strong-cash-flowing hospitality assets located in the top 25 U.S. MSAs – assets that are owned and operated by well-capitalized, experienced sponsors.”

Pugmire served as co-lead on the transaction with Civitas Capital Group managing director for investments Marisa Lizak.

Besides 168 rooms, Embassy Suites by Hilton Chicago Naperville offers complimentary breakfast and evening receptions as well as an indoor pool, fitness centre, guest laundry, market pantry, outdoor patio and on-site restaurant, called Brickstones Grill.

It also has almost 14,000ft² of flexible event space to accommodate meetings and banquets of any size up to 1,000 guests.