"It is located in the prime shopping, prime dining andentertainment and prime business area of the city," Hans Weger,chief financial officer for LaSalle, tells GlobeSt.com. "It haseverything we look for in our strategy."

Weger says the Bethesda, MD-based LaSalle, which in Maypurchased the 112-room Onyx Hotel in Boston for $28.6 million,selected the AAA-rated four diamond, 803-room property because ofits Copley Square location, its upscale image and its locationwithin two blocks of Hynes Convention Center and five miles fromLogan Airport. The REIT, which focuses its investments on upscalehotels in resort or convention areas, also owns the HyattHarborside at Logan Airport as well as interest in 22 full-servicehotels totaling 6,800 guest rooms in 14 markets in 10 states andthe District of Columbia.

"This helps us accomplish our mission of long-term stream ofincome for our shareholders," Weger adds. "This is a stabilizedasset in a city that has growth potential."

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