Chicago & Midwest CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
Oxford Capital Partnership Acquires Historic Detroit Hotel, Plans Interior Renovation
Oxford Capital Group, LLC said Friday it planned a full-scale interior renovation of the newly acquired, 453-key Westin Book Cadillac Detroit Hotel at 1114 Washington Blvd. in the Washington Boulevard Historic District of downtown Detroit. Oxford partnered with Taconic Capital Advisors on the acquisition.
The Oxford/Taconic partnership will lead a comprehensive refresh of the guest rooms, public space, meeting rooms and ballrooms over the next 24 months. The historic property, which was the world’s tallest hotel when it opened in 1924, will be reimagined by Oxford in collaboration with The Gettys Group and Marriott.
“The Book Cadillac is arguably Detroit’s most iconic hotel asset,” said John W. Rutledge, Oxford XCEO. “We are excited to announce this acquisition and look forward to strategically upgrading and refreshing the property so that it remains a market leader in downtown Detroit as the city and the nation continue their post-COVID recovery trajectory.”
- ◦Sale/Acquisition
