Chicago Sun-TimesCrescent Heights, a Miami-based developer, paid nearly $21 million for the Raphael, a 172-room hotel in Chicago. The property, located at 201 E. Delaware, along Chicago's Gold Coast, was sold by Starwood Hotels & Resorts Worldwide Inc. Although Crescent ...
San Francisco ChronicleThe 591-room Fairmont Hotel in San Francisco has announced it will convert 226 rooms in its tower wing - more than a third of its guest rooms - to condominiums. If that conversion goes forward, the Fairmont will ...
The News JournalWilmington Hotel Associates LLC, an investment group consisting of Prism Hotels of Dallas and an unnamed New York investor, acquired the 219-room Wyndham Hotel in Wilmington, Del. Oxford Capital Partners Inc., a Chicago-based investment firm, sold the 26-year-old. ...
San Francisco ChronicleThe owners of the Fairmount Hotel in San Francisco are considering transforming nearly half of their rooms into condominium units. Although the plan is in the early stages, the plan would convert 226 rooms in the 591-room hotel ...
The Chicago REIT is looking to acquire up to $1 billion of hotel properties this year. Meanwhile, the company's private affiliate, which recently agreed to sell the Essex House in New York, plans to test the market with more sales.
IXIS Real Estate Capital has provided $16 million of financing for the purchase and renovation of the Doubletree Hotel in Virginia Beach, Va.The 296-room property was recently purchased by Harmony Investments Inc., a Virginia Beach company, from Prudential Real Estate ...
The Providence JournalDeveloper The Procaccianti Group finally has all of the necessary approvals to move forward on its expansion of the Westin Providence hotel in Providence, R.I. The Capital Center Commission recently approved the design for the expansion, clearing the ...
Strategic Hotel Capital Inc. has agreed to pay $154.7 million for the Fairmont Chicago Hotel, a 692-room luxury property in the city's downtown.Strategic, a Chicago hotel company, is buying the property from the Swig Co. of San Francisco. It expects ...
CNL Hotels & Resorts Inc. has agreed to sell five hotels for $109 million to Pyramid Hotel Opportunity Venture.CNL, an Orlando, Fla., company, said the properties had been classified as non-core to its portfolio. It had taken over the properties ...
Sunstone Hotel Investors Inc. has completed the purchase of the remaining 75 percent interest in the Renaissance Washington, D.C., hotel.As reported, Sunstone bought a 25 percent stake in the property when it paid $419 million for a portfolio of hotels ...
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