NEW YORK CITY-Hersha Hospitality Trust has taken the entire ownership of the 29th Street Holiday Inn Express in New York. The Philadelphia-based company, which owned half of the 228-room hotel, has acquired the remaining 50% of the joint venture in the hotel for $10 million.
In 2007, Hersha paid $7.5 million for 50% of the venture. The acquisition price of the property, including debt, is $87.5 million. The identity of seller was not disclosed. For the full story, go to Philadelphia Business Journal .
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