Details of the first mortgage deal, which involves The Carlyle Group lending to LaSalle Hotel Properties, were not released. However, Sonnenblick-Goldman managing director and principal Mark J. Gordon says, "As a result of the asset's many attributes--physical quality, irreplaceable location, institutional quality ownership, strong performance both pre and post September 11 and strong brand affiliation--the interest we received from the capital markets was quite strong."
The 46-story, 1,192-room hotel at 540 N. Michigan Ave. is 24 years old. It includes 55,000 sf of meeting space as well as two restaurants.
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