Blackstone Pays $217M For Hersha Hotel Portfolio
Blackstone Real Estate Advisors LP will acquire the portfolio of hotel properties located primarily in the northeast U.S. from Hersha in a deal valued at roughly $125,000 per room. The acquisition is slated to closed in the first quarter of 2014.
Hersha, which currently owns a portfolio of 48 U.S. hotels, will complete...
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