Little Tokyo DoubleTree sold to Chinese firm for $115M

Los Angeles /
Jun.June 30, 2017 09:45 AM

Han’s Group USA, a Chinese company, purchased the DoubleTree by Hilton in Little Tokyo for $115 million, or $264,562 per key.

The deal for the 434-room hotel closed Friday, according to an announcement from brokerage Jones Lang LaSalle.

The seller was Connecticut-based UBS Realty, which acquired the 206,000-square-foot property, at 120 S. Los Angeles Street, for $45.65 million in 2011, records show.

JLL’s John Strauss, Tony Muscio, and Willis Cheng brokered the deal.

Han’s Group appears to be an affiliate of Han’s Laser Technology Co., Ltd, a public company traded on the Shenzhen Stock Exchange Market. It has a market capitalization of more than $2.15 billion, according to its website.

Nearby, fashion merchant Dae Young Lee wants to build a 994-unit mixed-use project at the site of the Little Tokyo Galleria. [LABJ]Cathaleen Chen


Related Articles

arrow_forward_ios
Granite CEO Michael Dardick and Industrious CEO Jamie Hodari

Industrious partners with landlords to offer tenants satellite workplaces

Industrious partners with landlords to offer tenants satellite workplaces
Colorado Campus at 2041-2115 Colorado Avenue and Northwestern Mutual CEO John E. Schlifske

Northwestern Mutual picks up Santa Monica office campus for $166M

Northwestern Mutual picks up Santa Monica office campus for $166M
Prop 15 property tax measure draws millions (Credit: iStock)

Prop 15 property tax measure draws millions of dollars from for and against campaigns

Prop 15 property tax measure draws millions of dollars from for and against campaigns
California is allowing barbershops and salons to reopen under new coronavirus mitigation guidelines (Credit: Noam Galai/Getty Images)

California allows barbershops to reopen, but LA holds back

California allows barbershops to reopen, but LA holds back
LA County assessor Jeffrey Prang

LA County properties valued at nearly $2 trillion…before pandemic

LA County properties valued at nearly $2 trillion…before pandemic
Justin Myers, Vice President of Atlas Hospitality

Study: California hotel construction outlook is bleak

Study: California hotel construction outlook is bleak
First District Supervisor Hilda Solis (Credit: Rebecca Sapp/Getty Images)

LA County select reopening target date for restaurants and retailers

LA County select reopening target date for restaurants and retailers
AEG CEO Dan Beckerman (Credit: Shaun Clark/Getty Images)

AEG plans 160-key hotel next to its DTLA headquarters

AEG plans 160-key hotel next to its DTLA headquarters
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...