A Chicago real estate investment firm announced April 28 its plan to sell its interest in the landmark Hyatt Regency La Jolla in a deal valued at $118 million. Strategic Hotels and Resorts reportedly intends to sell the 417-room hotel to affiliates of Chicago’s Walton Street Capital and California’s JMA Ventures. The sale will close during the year’s second fiscal quarter and will retire $89 million in Strategic debt. Strategic also owns a number of high-end properties, among them the Ritz Carlton in Laguna Niguel and the Loews Santa Monica Beach. The hotel is located at 3777 La Jolla Village Drive.