BrickVest's multi-million-dollar Chicago Hilton purchase

London-based online estate investment platform, BrickVest, is set to close a deal with Chicago's Navy Pier Hilton Hotel, for US$134.4 million. ACRON AG, a Swiss real estate asset manager who is already partnered with BrickVest, is aiding in the US deal.

The initial 15 million euro investment mandate was fully subscribed in less than four months, on BrickVest’s platform, and from ACRON’s investors pool, reflecting the high level of European investor demand for high quality US commercial property assets. The deal was made available through BrickVest’s AIFM liquidity platform, BrickVest Access, which is dedicated to HNWs and family offices. 

The Navy Pier Hotel, which is currently under construction and due to open in the summer of 2019, boasts 222 rooms with floor-to-ceiling windows offering views of the city, Lake Michigan and the Pier. It will boast America’s largest roof top bar and restaurant measuring 30,000 square feet and is the only hotel to be built on the Navy Pier, Chicago’s top landmark, which attracts over nine million tourists a year.

The Navy Pier was offered through Harvest Investment 8 (HV8), the latest in BrickVest’s range of thematic strategy Alternative Investment Funds (AIFs), and the first to offer investors exposure to the US market.  HV8 is the second partnership with ACRON. 

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