Olshan Properties has acquired Hilton Orrington in Chicago, US, for $60m from a joint venture of the Carlyle Group and Dow Hotel Company.
Located on Chicago’s North Shore, the 269-room Hilton Orrington Hotel opened in 1928.
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It is located 15 miles from downtown Chicago, and receives year-round demand for business and leisure purposes.
Olshan Properties CEO Andrea Olshan said:"We have expanded our national hotel presence in the Midwest through this acquisition, which represents another prominent Hilton flag in our family of hotels."
The Hilton Orrington is Olshan’s first property in Chicago and third full-service Hilton property under management.
Hilton Orrington completed a $5.1m renovation this year, redeveloping the guestrooms, lobby, and select meeting areas.
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By GlobalDataThe hotel features a ballroom, as well as conference, business and fitness centres.
Olshan Properties Capital Markets managing director Michael Odell said: "As Olshan Properties looks to further expand our national real estate footprint, the Chicago region has long been in our sights but proved elusive until today.
With this transaction, Olshan Properties owns six hotels across Chicago, including award-winning Marriott, Sheraton and Hilton-branded properties.
Image: Hilton Orrington in Evaston, Chicago. Photo: courtesy of PR Newswire/ Olshan Properties.
