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WCLP |
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i) As previously announced, on October 18, 2004, The Westin Chicago Limited Partnership, a Delaware limited partnership and subsidiary of WHLP ("WCLP"), and JER Partners Acquisitions III, LLC ("JER Acquisitions") entered into a Purchase and Sale Agreement pursuant to which, among other things, WCLP will sell the Westin Michigan Avenue hotel to JER Acquisitions for $137 million in cash, subject to certain purchase price adjustments. The general partner of WCLP retained Jones Lang LaSalle Hotels, a nationally recognized broker, to market the hotel and commenced the formal marketing in June 2004. |
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