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Ace Hotel in downtown Los Angeles sold for $103 million
Ace Hotel in downtown Los Angeles sold for $103 million

The trendy Ace Hotel that opened last year in a refurbished historic building in downtown Los Angeles has been purchased by a Maryland real estate investment trust for $103 million. The 182-room hotel near the intersection of Broadway and Olympic Boulevard will continue to be operated by Ace Hotel Group, buyer Chesapeake Lodging Trust said. The seller was Connecticut real estate investment firm Greenfield Partners. Film luminaries Mary Pickford, Douglas Fairbanks, Charlie Chaplin and D.W. Griffith built the 13-story United Artists building at 927 S. Broadway in 1927. It held offices for rent and a theater where United Artists pictures debuted, starting with Pickford’s film...

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