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The exact sale price is unclear, but sources said Oxford paid between $70 million and $75 million for the hotel, higher than the $65 million mortgage the Walton Street-AJ Capital venture took out on the property when it refinanced it in January 2020, according to Cook County public records. That puts the transaction in line with other downtown hotels that have changed hands during the pandemic at or close to the value of the debt they are carrying a reflection of the risk associated with buying a hotel amid a crisis that has hammered demand and may be slow to recover. Oxford, known locally as the owner of the LondonHouse hotel and Le Méridien Essex Chicago on Michigan Avenue among other properties, is raising its bet on the Chicago hospitality market by picking up a great asset in an excellent location and at an attractive price, Oxford Chairman and CEO John Rutledge said in a statement.

United statesGold coastOxford capital groupThompson chicagoChicago based walton street capitalஒன்றுபட்டது மாநிலங்களில்தங்கம் கடற்கரைஆக்ஸ்ஃபர்ட் மூலதனம் குழுதாம்சன் சிகாகோசிகாகோ அடிப்படையிலானது வால்டன் தெரு மூலதனம்