Mag Mile Capital Closes $23.5 Million Acquisition Financing for Landmark Homewood Suites Chicago-Downtown Hotel

Mag Mile Capital, Inc. (OTCQB: MMCP) announced the successful closing of a $23,500,000 permanent fixed-rate acquisition loan for the Homewood Suites by Hilton Chicago-Downtown. The property, located at 40 E. Grand Avenue in Chicago's River North neighborhood, comprises 233 all-suite keys and is one of the largest Homewood Suites by Hilton properties in the country. The acquisition price for the property was $29,000,000, with a $3,300,000 PIP holdback allocated for a planned property improvement program. The transaction was arranged on behalf of an investment team led by Prakash Patel and Nirav Patel. Mag Mile Capital addressed several underwriting considerations, including unionized labor and insurance for the vertical condominium structure, and secured favorable terms amid a dynamic macroeconomic environment. The deal demonstrates Mag Mile Capital's ability to structure and execute complex hospitality financings in major urban markets, delivering certainty of close even in challenging capital market conditions. The company looks forward to supporting the continued growth of its new client partners in the hospitality space.

Mag Mile Capital Reports Record First Quarter 2026 Results with 205% Revenue Growth and Return to Profitability

Mag Mile Capital, Inc. (OTCQB: MMCP) announced its financial results for the quarter ended March 31, 2026, reporting a 205% year-over-year revenue increase to $2.38 million and a net income of $301,433. The company closed a $79.5 million refinance transaction for HKB Hotels Group, generating approximately $1.39 million in gross revenue. Cash increased to approximately $644,000, and stockholders' equity improved from a deficit of $(290,333) at year-end 2025 to positive equity of $11,100. The company attributes its strong performance to increased commercial real estate financing activity and momentum in the CMBS market.

Mag Mile Capital Closes $10.3 Million Financing for Delta Hotels by Marriott in Bristol, Virginia on Behalf of Hulsing Hotels

Mag Mile Capital, Inc. (OTCQB: MMCP) announced the successful closing of a permanent financing for the Delta Hotels by Marriott Bristol, a full-service hotel in Bristol, Virginia. The transaction was structured as a 10-year fixed-rate loan for $10.3 Million with a 25-year amortization schedule, arranged on behalf of Hulsing Hotels. Hulsing Hotels previously invested over $6 million to convert the property from a Holiday Inn to a Delta Hotels by Marriott. This marks the fourth financing Mag Mile Capital has completed for Hulsing Hotels. The financing provides cash-out proceeds and facilitated a partial partner buy-in, allowing for an equity restructuring.