CHICAGO-Sunstone Hotel Investors Inc., a real estate investment trust based in Aliso Viejo, California, has agreed to pay $91.8 million for the Hilton Garden Inn Chicago Downtown/Magnificent Mile. Barcelo Crestline Corp., a hotel management firm based in McLean, Virginia, is selling the 357-room hotel at 10 E. Grand Ave. for $257,000 per room.
Barcelo bought the hotel in 2007 for $99.8 million. On May 3, Sunstone announced that it had agreed to purchase the Wyndham Chicago in Streeterville for $88 million. For the full story, go to Crain's Chicago Business .
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