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Marcus and Millichap Closes 11 Hotel Transactions in July

Marcus and Millichap Closes 11 Hotel Transactions in July

CHICAGO—Marcus and Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, closed 11 hotel transactions in the month of July totaling more than $59 million. This represented a 29 percent increase in transaction volume and a ...

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Lubert-Adler Sells Two Hotels to Carey Watermark Investors

Lubert-Adler Sells Two Hotels to Carey Watermark Investors

PHILADELPHIA—Lubert-Adler of Philadelphia, Penn., has sold two hotels comprising 647 keys to New York City-based Carey Watermark Investors for a total of $156.6 million. The most recent sale, which closed this week, was the 400-room Marriott Raleigh City Center, which ...

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Ashford Trust Enters Into Nine New Franchise Agreements

Ashford Trust Enters Into Nine New Franchise Agreements

DALLAS—Ashford Hospitality Trust announced that as part of the company’s ongoing asset management initiatives, it has entered into a franchise agreement to convert the 258-room, Crowne Plaza Beverly Hills to a Marriott after the expiration of the existing Crowne Plaza ...

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Lightstone Value Plus REITs Buy Four Arkansas Hotels

Lightstone Value Plus REITs Buy Four Arkansas Hotels

NEW YORK—Lightstone Value Plus Real Estate Investment Trust (LVPR) and Lightstone Value Plus Real Estate Investment Trust II (LVPR II) announced the acquisition of four Marriott and Starwood hotels in Arkansas for $29.1 million. LVPR acquired the Marriott Fairfield Inn ...

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