Little Tokyo DoubleTree sold to Chinese firm for $115M

Seller UBS Realty bought it for $45.65M in 2011

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
AEG CEO Dan Beckerman and the Ritz-Carlton and JW Marriott hotels at the complex at 800 West Olympic Boulevard (Getty, Google Maps)
AEG looks to sell stake in LA Live hotels
AEG looks to sell stake in LA Live hotels
Randy Kendrick, chief executive officer, Xebec Realty, and 12975 Bradley Avenue in Sylmar, CA (Xebec Realty, LoopNet)
Xebec looks to flip Sylmar industrial to self
Xebec looks to flip Sylmar industrial to self
The CitizenM hotel in Los Angeles (Booking)
California starts to refill hotel development pipeline
California starts to refill hotel development pipeline
Distress specialist buys Santa Barbara hotel
Distress specialist buys Santa Barbara hotel
Distress specialist buys Santa Barbara hotel
Richard Lovett, co-chairman / agent, motion picture library literary, CAA (CAA)
CAA picks JMB Realty’s new Century City tower for HQ
CAA picks JMB Realty’s new Century City tower for HQ
Kevin Staley, managing partner, Staley Point Capital; Andrew Terris, managing director, real estate, Bain Capital; and view of 12065 Pike Street (Google Maps, Bain Capital, Staley Point)
Staley Point, Bain spring for beer bash
Staley Point, Bain spring for beer bash
Rexford Industrial Realty co-CEOs Michael Frankel and Howard Schwimmer and property at 4240 West 190th Street (Wexford Industrial Realty, Newmark)
Rexford’s latest in South Bay brings 307K sf
Rexford’s latest in South Bay brings 307K sf
Microsoft CEO Satya Nadella, Activision Blizzard CEO Bobby Kotick and 2701 Olympic Boulevard (Wikipedia, Loopnet)
Here’s how Microsoft will expand its SoCal office footprint with Activision
Here’s how Microsoft will expand its SoCal office footprint with Activision
arrow_forward_ios

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

Loading...