Anbang Finds Buyer for High-Profile Hotel Portfolio

CoStar 09/11/19 Anbang Finds Buyer for High-Profile Hotel Portfolio Chinese Insurer Selling Luxury Properties to South Korean Buyer for $5.8 Billion By Lou Hirsh https://product.costar.com/home/news/shared/626975670 China’s Anbang Insurance Group reportedly agreed to sell a portfolio of 15 U.S. luxury hotels for more than $5.8 billion to an affiliate of a South Korean financial services company,...

Citizen Hotel Sold for $53 Million, Records Confirm

Sacramento Business Journal 09/11/19 Citizen Hotel Sold for $53 Million, Records Confirm By Emily Hamann https://www.bizjournals.com/sacramento/news/2019/09/11/citizen-hotel-sold-for-53-million-records-confirm.html Downtown Sacramento’s Citizen Hotel sold for $53.2 million in July, county records show. That’s $7 million less than what Platinum Equity paid for the property the last time it changed hands, in 2015. In the sale, Miami-based private equity...

Onni Group Proposes One of Los Angeles Area’s Largest Hotels

CoStar 09/03/19 Onni Group Proposes One of Los Angeles Area’s Largest Hotels Developer Seeks Approval for Over 850 Rooms in Glendale, California By Karen Jordan https://product.costar.com/home/news/813587664 Developer Onni Group has proposed a more than 850-room hotel in Glendale, California, which could become one of the largest hotels by room count in greater Los Angeles. The...