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The 182-room Ace Hotel in LA is up for sale less than one year after opening up, according to the LA Business Journal. The hotel, owned by Greenfield Partners, was a major conversion project. It opened in 1927 as the tallest building in LA, used as a private theater for the United Artists film studio formed by Charlie Chaplin, Douglas Fairbanks and Mary Pickford. The LBJ reports Greenfield is looking for about $100M for the property, which could receive new management and a name change (if the buyer is willing to pay a fee). JLL is handling the marketing.
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