Downtown Charleston will take delivery of a multi-million dollar facelift in the coming months, appreciation to a new owner.
Cleveland-based Forest City Enterprises Inc. sold the famous Charleston hotel to Inland American Lodging Inc., an associate of Oak Brook, Ill.-based Inland American Real Estate Trust Inc. for $25.5 million, according to a force down let go from the corporation.
Inland American Real Estate Trust Inc. owns hotel, manufacturing, retail and workplace possessions in 47 states around the country, according to the company's website.
Company officials plan to endow more than $8 million in redecorations to the hotel, which was put together about 28 years ago, said Philip Wade, superior vice president of investments for Inland American Lodging Advisor Inc., an associate of the company.
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