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Developer Acquires Former Hotel for $7.2M

Buyer To Convert Hospitality Property Into 128-Unit Multifamily
By Michael Nowakowski
March 2, 2011 | 9:08 P.M.

WLA Investments Inc., a California-based developer, purchased a former Chase Suites property in Salt Lake City, UT, from Hardage Hotels LLC for $7.2 million, or approximately $56,250 per unit.

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