PHILADELPHIA-The Philadelphia Inquirer reported that EricBlumenfeld has purchased the Divine Lorraine Hotel in Philadelphiawith plans to convert the property into apartments. The newspaperstated that the developer was the only bidder for the building at asheriff's sale.
Blumenfeld purchased the hotel a decade ago, but sold it outafter he was preoccupied with another project. The proposed$43-million project will include 126 rental apartments. The groundfloor will have food outlets or restaurants. For the full story,go to Philadelphia Business Journal .
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