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Ace operates in Los Angeles, New York, Japan and has one luxury hotel in New Orleans.
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Construction is set to begin in May and take 20 months.
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Will the pandemic-era interest in the great outdoors continue? Barry Sternlicht is betting it will.
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The building is slated to open July 1, and MAG Partners, Method Co., Hord Coplan Macht and other team members celebrated the opening Friday.
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Surrendering the portfolio comes as Pimco raised $3B for further commercial real estate investments.
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The travel search website has ended its foray into branded hotels.
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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.
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Arden has owned the sixth largest hotel in Atlanta through the pandemic, which has hampered its business.
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The hotel is the first new full-service hotel in Long Beach in 30 years.
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The frozen debt market is hurting all of commercial real estate, but the hotel sector has problems all its own.
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