RLJ Lodging Trust Buys Embassy Suites Boston/Waltham for $64.5M

RLJ Lodging Trust

today announced that it acquired the 275-room Embassy Suites Boston/Waltham (the “Hotel”), through an off-market transaction, for a purchase price of $64.5 million, or approximately $235,000 per key. The purchase price represents a forward capitalization rate of approximately 7.9% on the hotel's projected 2013 net operating income. The Company purchased this asset with cash available on its balance sheet.