Thursday, August 26, 2010

Hyatt Regency Dearborn to be sold for $12.5 million

The Hyatt Regency Dearborn is under contract to be sold in a $12.5 million deal.

The 772-room hotel in Dearborn has been on the market since Dallas-based real estate investment trust Ashford Hospitality Trust Inc. (NYSE: AHT) defaulted on the $32.5 million loan at the end of 2009.

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