Buyers of all three hotels have their headquarters locations in Bethesda, MD. While DiamondRock Hospitality is based there, so is LaSalle Hotel Properties. The REIT, which still has 25% of its portfolio in Downtown Chicago, was a partner with Carlyle Group on the Marriott at 540 N. Michigan Ave. According to property records, the hotel was acquired for $104.1 million in January 2000.
DiamondRock Hospitality's holdings include the 384-room Oak Brook Hills Marriott Resort, which it bought last year for $64 million. The company embarked on an $11-million renovation at the 127-acre property, which includes an 18-hole golf course and 43,926 sf of meeting space.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
