CHICAGO-Texas-based C-III Asset Management LLC, a loan servicer,has agreed to sell an Embassy Suites in Deerfield for approximately$18 million. A joint venture of Los Angeles-based Oaktree CapitalManagement LP and Bannockburn-based Montclair Hotel Investors Inc.will pay $76,000 per room for the 237-room hotel located at 1445Lake Cook Road.

In February 2010, the hotel was valued at just $11 million. Thespecial servicer seized the hotel from FelCor Lodging Trust Inc. inlate December.For the full story, go to Crain's Chicago Business. News Hub is your link torelevant real estate and business stories from other local,regional and national publications.

Want to continue reading?
Become a Free ALM Digital Reader.

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.