St. Charles Courtyard hotel sold, under new management
ST. CHARLES – A hotel on the city’s east side is under new management.
Last week, North Central Hospitality, an affiliate of the North Central Group of Middleton, Wis., announced it has been awarded the contract to manage operations at the Courtyard by Marriott hotel in St. Charles.
The management contract comes as part of a package that includes four other hotel properties in Arizona and Texas that recently were acquired by entities associated with Wheelock Street Capital, a Greenwich, Conn., based real estate investment company.
According to Kane County property records, the St. Charles Courtyard by Marriott hotel, located at 700 Courtyard Drive, just north of Foxfield Road between Dunham and Kirk roads, was sold by WINN Limited Partnership, an Oak Brook investment group affiliated with Inland American Winston Hotels of North Carolina.
The hotel property was acquired in September by WS CYC LLC, a corporation affiliated with Wheelock Capital, for about $7.68 million.
WINN Limited Partnership had purchased the property in September 2006 for $9.2 million.
The North Central Group announced its partnership with Wheelock Street Capital to manage the property Sept. 26.
The acquisition marks the North Central Group’s entrance into the Chicago-area market. The company manages three hotels in Rockford.
North Central Group manages 27 hotels in six states.