Westin Book Cadillac hotel in Detroit sale finalized by Clev

From Crain's Detroit Business: A joint venture between Chicago-based hotel developer Oxford Capital Group LLC and New York City-based hedge fund Taconic Capital Advisors LP has assumed $77 million in commercial mortgage-backed securities debt owed by Ferchill Group and plans to spend the next two years and $16.5 million renovating the tower.

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