One of Chicago's richest real estate titans now owns a piece of San Diego's Hyatt Aventine. Neil Bluhm, a Chicago real estate investor who owns iconic properties along Michigan Avenue, is part of a JV that bought 53.5% interest in the 419-room La Jolla's Hyatt Regency hotel for some $118M, reports the San Diego Business Journal. A Singapore sovereign fund owns the other interest portion, while Strategic Hotels & Resorts sold its interest to Neil's private equity firm, Walton Street Capital, which itself JV'd on the purchase with San Francisco-based JMA Ventures. [SDBJ]
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