Commons Hotel: Buyer of The Commons near U of M will convert hotel to Graduate brand

A Chicago-based investor has bought The Commons Hotel near TCF Bank Stadium and will convert the property into its new and upscale Graduate Hotel brand. AJ Capital Partners of Chicago launched the Graduate Hotel collection in 2014 and operates the hotels near universities, including near the University of Wisconsin in Madison and the University of Michigan in Ann Arbor. Ohio-based RockBridge Capital bought the 304-room hotel at 615 Washington Ave. SE in 2012 for $18.5 million. It's the 17th largest...