Hersha Hospitality Acquires Courtyard by Marriott in Ewing, New Jersey
Hersha Hospitality Trust (NYSE: HT), owner of upscale and select service hotels in major metropolitan markets, announced that it has purchased the remaining 50% interest it did not previously own in a 130-room Courtyard by Marriott located in Ewing, a densely populated sub-market of Princeton, New Jersey, for assumption of debt and nominal cash consideration. Since Hersha's initial acquisition in 2004, the Courtyard Ewing has been accounted for as an unconsolidated joint venture investment but will become a consolidated asset as of the third quarter of 2012.
© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.