Ace Hotel Brand To Be Sold For $85M To Expansion-Minded Buyer
Ace operates in Los Angeles, New York, Japan and has one luxury hotel in New Orleans.
Ace operates in Los Angeles, New York, Japan and has one luxury hotel in New Orleans.
Construction is set to begin in May and take 20 months.
Will the pandemic-era interest in the great outdoors continue? Barry Sternlicht is betting it will.
The building is slated to open July 1, and MAG Partners, Method Co., Hord Coplan Macht and other team members celebrated the opening Friday.
Surrendering the portfolio comes as Pimco raised $3B for further commercial real estate investments.
The travel search website has ended its foray into branded hotels.
Tim Barton, owner and president of JMJ Development, is awaiting trial on federal charges of fraud and conspiracy. He faces up to 60 years in prison.
Arden has owned the sixth largest hotel in Atlanta through the pandemic, which has hampered its business.
The hotel is the first new full-service hotel in Long Beach in 30 years.
The frozen debt market is hurting all of commercial real estate, but the hotel sector has problems all its own.
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