Behringer Harvard Acquires Chase Park

ST. LOUIS— Behringer Harvard has purchased a majority interest in the Chase Park Plaza Hotel and the adjacent Park Plaza residential tower here. Retaining a minority interest in the historic property, which dates from the 1920s, is local investor James Smith. Behringer Harvard, a Dallas-based commercial real estate company, didnt disclose the price it paid, but industry sources pegged it at $180 million, $95 million of which will be invested back into the property in the form of upgrades and renovations.