Hyatt on Square to be purchased

A California real estate investment firm with an appetite for urban real estate has closed on the purchase of the 26-story Capitol Square office building in Columbus with plans to buy the neighboring hotel next month. Hertz Investment Group, based in Santa Monica, Calif., paid about $40 million for the 494,484-square-foot tower at 65 E. State St. It also plans to buy the 400-room Hyatt on Capitol Square. The price of that transaction hasn't been disclosed.