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WASHINGTON, DC-Last month, DiamondRock Hospitality acquired $69 million in debt from Wells Fargo, backed by the landmark Chicago hotel Allerton. The Maryland hotel firm bought the senior mortgage loan on the 443-room hotel after its owner, Chartres Lodging Group, was unable to repay it. DiamondRock said in a news release that it expected to own the fee title of the hotel upon completion of the foreclosure. That plan hit a bump in the road shortly afterwards, though; according to the Wall Street Journal, a tussle broke out between it and mezzanine lender, New York-based Petra Capital Management, with both firms vying for control.

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