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Real Estate/Development

May 5, 2011

Real Estate Deals

National boutique hotel operator Morgans Hotel Group Co. sold the Mondrian Los Angeles to an affiliate of Pebblebrook Hotel Trust for $137 million, or $580,000 per room.



DEALMAKERS

Mondrian Los Angeles Sells For $137 Million


National boutique hotel operator Morgans Hotel Group Co. sold the Mondrian Los Angeles to an affiliate of Pebblebrook Hotel Trust for $137 million, or $580,000 per room. Morgans will continue to operate the hotel, in the heart of Los Angeles' famed Sunset Strip, under a 20-year management agreement with one 10-year extension option.


Morga...

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