ATLANTA, GA— CB Richard Ellis Hotels has completed the sale of two urban hotel properties on behalf of GMAC Commercial Mortgage, the servicer for LaSalle Bank in both transactions. The Clarion Hotel in Norwalk, CT. was sold to The Hotel Group (THG), based in Edmonds, Wa., for an undisclosed price. THG plans to invest more than $5.5 million to renovate and rebrand the 266-room property as a full-service Double Tree Hotel, a member of Hilton’s family of hotel brands. The other transaction was Innkeepers USA Trust’s $6.4 million purchase of the 182-room Clarion Hotel that will be converted into a Hampton Inn after a $4.5 milllion renovation.
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