Article: JLL arranges sale of three Hotel Monacos.(Commercial)(Jones Lang LaSalle Hotels aquired by Cornerstone Real Estate Advisers LLC )

Chicago-based Jones Lang LaSalle (JLL) Hotels announced in September the sale of three of its hotels--the Hotel Monaco Chicago, Hotel Monaco Denver and Hotel Monaco Salt Lake City--on behalf of institutional clients advised by Parsippany, New Jersey-based Prudential Real Estate Investors (PREI[R]).

The portfolio of assets was purchased by Hartford, Connecticut-based Cornerstone Real Estate Advisers LLC for the Cornerstone Hotel Income & Equity Fund II LP (CHIEF II) for an undisclosed sum.

To support Cornerstone's purchase, Jones Lang LaSalle's real estate investment banking experts secured the acquisition financing from a major life insurance company. ...

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