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Article: Hotel sold for $62 million to fund shopping center. (Hotel Sofitel Ma Maison, West Los Angeles)
- Article from:
- Los Angeles Business Journal
- Article date:
- January 14, 1991
- Author:
CopyrightCOPYRIGHT 1991 CBJ, L.P. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Hotel sold for $62 million to fund shopping center
Developer builds war chest to `control his own destiny'
Santa Monica-based developer Sheldon Gordon has sold his 311-room Hotel Sofitel Ma Maison in West Los Angeles for about $62.5 million to a syndicate of French hotel concerns, the Business Journal has learned.
The sale, along with Gordon's sale in June of a 700,000-square-foot shopping mall in San Fracisco, has endowed the developer with a sizable war chest.
That war chest will be spent on developing a major new regional shopping mall somewhat in California, Gordon revealed. Details will be revealed within the next 90 days, he ...