The San Diego native Indian tribe, the Sycuan Band of the Kumeyaay Nation, taking title as Sycuan Investors - U.S. Grant LLC, purchased the U.S. Grant Hotel at 326 Broadway in Downtown San Diego. It paid $45 million for the 283-room hotel, in excess of $159,000 per room. The acquisition was financed with a $31 million loan from Illinois-based Corus Bank and a $9 million loan from Ramsfield Hospitality Finance, a New York-based firm that provided mezzanine financing. The property sold at a 5 percent cap rate.