HPT Takes Harbor Court Complex for $78M

BALTIMORE-For $78 million, Newton, MA-based Hospitality Properties Trust has acquired the Harbor Court Complex. The site, which centers on a hotel and includes an office building and parking facility, was sold by Los Angeles-headquartered developer Castle & Cooke, an entity operating under the direction of David Murdock, who originally developed the property.

Located off Interstate 395 at the Inner Harbor near Oriole Park at Camden Yards, the complex features the 195-room Harbor Court Hotel with its 8,000 sf of meeting space, as well as a 72,000-sf office structure and a 530-space parking facility. With Hospitality Properties’ purchase came another deal in which the REIT signed InterContinental Hotels Group to run the hotel as the InterContinental Harbor Court Baltimore.