- Associated Press - Thursday, December 15, 2016

DES MOINES, Iowa (AP) - Owners of the Des Moines Marriott Downtown have announced the hotel will be sold for nearly $34 million to Chicago-based Singerman Real Estate.

The Des Moines Register reports (https://dmreg.co/2hq0i3N ) that City Center Corp., the hotel’s current owner, says the sale is scheduled to close Friday.

Constructed in 1981, the Marriott is the third tallest building in Des Moines and includes more than 400 rooms.

Earlier this year, the City Center board considered expanding the hotel, but decided instead to sell it.

The assessed value of the hotel is $21.5 million, not including several condo units within the building.

A news release says the Chicago investment firm is working with Marriott International and Des Moines officials to finalize any changes to management of the property.


Information from: The Des Moines Register, https://www.desmoinesregister.com

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