TUCSON, AZ—HREC Investment Advisors has arranged the sale of the 154-guestroom Aloft Tucson University Hotel on behalf of the seller, Starwood Hotels & Resorts.
The hotel, purchased for $19 million, was acquired by Lightstone Value Plus Real Estate Investment Trust II, Inc. ("LVPRIT"), a public, non-traded REIT sponsored by The Lightstone Group, a privately- held real estate company.
Island Hospitality Management, a Palm Beach, FL-based firm, will manage the property and the hotel will remain branded as an Aloft.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
David Phillips
David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.
