REBusinessOnline

JV ACQUIRES FEE SIMPLE INTEREST IN 802-ROOM HOTEL

LOS ANGELES — Chicago-based Harp Group and its equity partners Fidelity Investments Real Estate Group and Blue Vista Capital Partners have acquired the fee simple interest in the Sheraton Gateway Hotel at Los Angeles International Airport for $97 million. Located on West Century Boulevard, the property offers 802 guestrooms, approximately 48,000 square feet of meeting space, and four food and beverage outlets, as well as a fitness center and pool. Jones Lang LaSalle Hotels represented the seller, Kor Hotel Group, in the transaction. Jones Lang LaSalle Hotels also secured $65 million in acquisition financing for the buyers.

Content Partners
‣ Arbor Realty Trust
‣ Bohler
‣ Lee & Associates
‣ Lument
‣ NAI Global
‣ Northmarq
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‣ Walker & Dunlop

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