Laurus Affiliate Acquires Doubletree-Green Tree in Pittsburgh

PITTSBURGH — Ethika Investments LLC, an affiliate of Laurus Corp., has allocated capital for the acquisition of the DoubleTree by Hilton Hotel – Green Tree in Pittsburgh. The 460-room property is the largest Pittsburgh hotel in the Hilton family of brands and recently underwent a $20 million renovation. Ethika and Laurus plan a $7 million capital plan, including the introduction of the Asado Grill restaurant, to improve customer experience and position the hotel as the go-to location for business meetings, conferences and weddings in the greater Pittsburgh area. The DoubleTree Green Tree features nearly 40,000 square feet of flexible, multi-functional meeting space and a 13,000-square-foot indoor athletic training center. This marks the 16th total capital allocation within Ethika’s Diversified Opportunity Real Estate Fund.