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Chicago s iconic Drake Hotel is up for sale - Chicago Business Journal
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Brashears family stands to collect $150 million in Drake Hotel sale
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Of Note: 7 July 2021
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The firm behind a $1 billion hotel rescue capital strategy announced earlier this year appears ready to make an investment to the tune of $200 million.
Acore Capital plans to make the preferred-equity investment in Graduate Hotels, a rapidly growing Chicago-based company with 32 boutique hotels in U.S. and UK college markets. The transaction would enable Graduate to both fuel growth and pay off debt. The preferred equity would also put Acore first on top of any existing equity investors for any upside in the business.