TOLEDO, OH— Allegiance Realty Corp. has sold the Hilton Hotel, Toledo to Amazing Grace Hotels, LLC. CB Richard Ellis Hotels negotiated the sale on the behalf of Allegiance. The price was undisclosed. The 211-room hotel will now be renovated by Amazing Grace. The renovation will incorporate several new Hilton standards, including guestroom wireless Internet access, as well as a new fitness center and new interior designs in the public areas. Allegiance had owned the asset for three years and invested $5 million in its renovation and repositioning during that time. Despite the sale, American Property Management will continue to operate the hotel.
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