After seven months of negotiations, the Sacramento Kings have bought a mall that sits on the site of a planned $448-million arena. In addition to a new arena, the property will include a new hotel, along with office and retail space.
There is no word as to what kind of hotel will be built, how large it will be, or what brand.
The team finalized the deal Thursday to buy Downtown Plaza from San Francisco-based development firm JMA.
The arena is scheduled to be completed in 2016.