The Westin at 909 N. Michigan Ave. has now been sold twice inlittle more than a year. JER Partners of McLean, VA paid $137million for the property across Delaware Place from the JohnHancock Building in early 2005. Starwood Hotels & ResortsWorldwide Inc., which had a 25% stake in the property beforeselling to JER Partners, continues as manager of the hotel.Starwood Hotels & Resorts manages three other hotels in LaSalleHotel Properties' portfolio.
The $114.5-million price for the House of Blues Hotel at 329 N.Dearborn St. includes 115,000 sf retail and restaurant space at thebase of the Marina City condominium towers as well as 896 parkingspaces in the first 17 floors of the twin towers. LaSalle HotelProperties has hired Gemstone Resorts International, LLC to managethe hotel.
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