June 22, 2009: HVS Capital Corp has been appointed as advisor to Dellisart – Chicago B LLC -- to assist with the restructuring plan for the proposed Staybridge Suites Hotel in Chicago, Illinois.
The partially constructed 207-room all-suite hotel is located in the River North neighborhood of downtown Chicago, proximate to the Magnificent Mile. The 17-story structure pays tribute to the dynamic architecture of Chicago, while contributing to the continued renaissance of the River North community. As the majority of major hotel brands are already represented in Chicago, this development offers a rare opportunity to enter one of the most prominent lodging markets in the U.S., according to Jeffrey Duni, Vice President of HVS Capital Corp.
HVS Capital Corp is the investment banking division of HVS Global Hospitality Services. Its three core areas of service are financing, investment sales, and capital advisory. The Special Hospitality Assets Group of HVS Capital Corp offers comprehensive services for lenders and borrowers in distressed asset situations, utilizing the relevant disciplines of HVS’ global consulting services to facilitate workouts of distressed hotel assets. Most importantly, HVS Capital Corp can access the necessary rescue equity to recapitalize a project, thereby alleviating the fundamental lack of liquidity in distressed asset situations.
HVS Capital Corp