405 hotel sold

That would be the Hotel Angeleno, which most of us know as that circular-designed place that's just off the Sunset Boulevard exit of the San Diego Freeway. It operated forever as a Holiday Inn, but became the Angeleno after being bought and refurbished by Ezri Namvar. He's the guy being investigated by federal authorities and who has been accused by some of his creditors as running a Ponzi scheme (his main investment company owes more than $500 million to 464 creditors). The hotel's new owner is Ascot Hotel LP, an investment group. Purchase price is $35 million. Here's the story from the Business Journal, which has been nearly all alone in covering Namvar (guess there's just too much alleged scamming going on out there).