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.


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