CB RICHARD ELLIS BROKERS $20 MILLION HOTEL SALE

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COLUMBUS, OHIO — CB Richard Ellis (CBRE) Hotels has arranged the sale of the landmark Holiday Inn on the Lane at Ohio State University. The 11-story, 243-room hotel, which is located on Lane Avenue and borders the Ohio State campus, was acquired for $20 million by the university. The school plans to convert the building to student housing. Built in 1973, the hotel has been owned by the seller, Harper Hotels, since it opened. Eric Belfrage of CBRE’s Columbus office and Tom Ives of the company’s Atlanta office represented Harper Hotels in the disposition.

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