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BETHESDA, Md., Mar 01, 2010 — LaSalle Hotel Properties today announced it has acquired the Sofitel Washington, DC Lafayette Square for $95.0 million.

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The CEO of Capitaland Group Liew Mun Leong said he was concerned about ‘the severe deteriotation of service quality’, an ‘appalling situation that appears chronic’. — PHOTO: BT SIX high-level business leaders banded together on Monday to address service standards in Singapore, which they said are in dire straits.

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Peerless Industries is consolidating operations, inking a full-building lease just west of Chicago. The manufacturer of television and speaker mounts plans to add about 85 jobs over the next three years, and retain its 405 local employees. Peerless…

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Average mortgage rates in Pennsylvania were up again over the past week, but kept up the trend of rates below 5 percent, according to mortgage rate Web site Zillow.com.

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San Francisco-based Shorenstein Properties has taken ownership of the distressed Santa Clara Towers from Tishman Speyer in a consensual transaction.

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Franchisee will target ‘echo boomers’ in the area

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Downtown Seattle condominium tower Escala will lower prices by as much as 50 percent on unsold units, the luxury building’s new marketing firm said Tuesday.

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Remodel Auction Inc. has formed a joint venture with Lockard Reed Development Group.

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General Growth Properties Inc. filed a motion in bankruptcy court seeking to hold a stockholder named James Young and his lawyers in contempt for filing a shareholders’ derivative suit in state court in Illinois shortly after Simon Property Group Inc.

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Boston Scientific Corp.’s compensation committee recently said the company will absorb part of any loss on the sale of Chief Technology Officer Fredericus Colen’s lakefront home in Minnesota. (BSX)

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