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12/24/14
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In a big SoCal hotel buy, XLD Group LLC has acquired the 1,004-room Los Angeles Airport Marriott from DiamondRock Hospitality Company for $150 mil. XLD Group is the U.S. subsidiary of Chinese hotel investment company Sichuan Xinglida Group Enterprises.
The Los Angeles Airport Marriott acquisition represents XLD Group’s second significant Marriott purchase in Los Angeles County, following the firm’s November 2013 purchase of the 487-room Torrance Marriott South Bay from the same seller.
The Los Angeles Airport Marriott hotel is located at 5855 West Century Blvd, only two blocks from LAX international airport. It offers four on-site dining options including Starbucks, JW's Steakhouse, Champions Sports Bar and Latitude 33. The property has earned the Energy Star® label from the U.S Environmental Protection Agency.
“XLD Group’s Los Angeles Airport Marriott purchase originated from its Torrance acquisition and the pair of purchases strategically positions the investment company as the owner of a significant percentage of Marriott’s rooms in the greater Los Angeles International Airport area,” noted Greg Karns, partner at Cox Castle & Nicholson. The firm represented XLD Group in the transaction.
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