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LOS ANGELES — Grubb & Ellis has brokered the $46 million sale of the four-diamond Hilton Checkers Hotel located at 535 S. Grand Ave. in downtown Los Angeles. Operating under Kalpana LLC and 535 Grand Avenue LLC, Tarsadia Hotels sold the property to Annapolis, Maryland-based REIT Chesapeake Lodging Trust. Built in the 1920s and renovated in 2008, the 188-room boutique hotel includes an award-winning restaurant, a spa and lounge, and six indoor and outdoor meeting areas. Grubb & Ellis’ Jordan Richman and Felix Cacciato of Hotel Equity Advisors represented both parties in the sale of the 12-story property, which is located in the heart of L.A.’s financial district.