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LAGUNA BEACH, California – Dune Drifter, a new Century City, California-based firm founded by investors Cramer Williams and Chris Harrison, who is the grandson of Bill Marriott, acquired from Highgate Hotels and Morgan Stanley for $80 million ($640,000 per key) the 125-room, beachfront Pacific Edge Hotel in Laguna Beach, California, according to the Orange County Business Journal. The sellers acquired the property in 2017 for $57.5 million.