Troubled Houston Boutique Looks For Brand
From Chron.com:
Joint Venture Buys 135-Room Hotel Out of Foreclosure for $27 Million
Hotel Icon's new owners have changes in store for the trendy downtown spot. It no longer will be an independent boutique hotel, but will rebrand as part of an undisclosed chain, according to new owners who bought the property out of foreclosure Tuesday. A joint venture between Los Angeles-based Canyon Johnson Urban Funds and Newport Beach, Calif.-based Centurion Partners purchased the property for $27 million through a credit bid at the Harris County foreclosure auction, the companies said. Click here for the full story.
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