Oxford Capital Group, LLC has sold its latest luxury hotel development, LondonHouse Chicago, in a recent venture with Angelo, Gordon, for $315 million.
German investor, Union Investment Real Estate,purchased the development as a 25-year lease for the whole 361,467 square feet based on an annual fixed rent.
The 452-room hotel, scheduled to open this spring, sits on the corner of North Michigan Avenue and Wacker Drive inside the London Accident & Guarantee Building, a 22-story glass tower designed by Chicago’s Goettsch Partners.
Oxford Capital and Angelo, Gordon still retain ownership of the separate 28,000-square-foot retail space on the first and second floors of the building.
