Forty-year-old Madison Hotel is set to reopen at the end of August after a $37 million renovation. The hotel and an adjoining 90,000-square-foot office building and underground parking garage were bought last year by an investment group that included Multi-Employer Property Trust, a pension fund; the Buccini/Pollin Group; and Monument Realty LLC for an undisclosed amount that industry experts estimate at $80 million.

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