TRENTON, NJ-The bankrupt Lafayette Yard Hotel was sold via auction today to New York City-based Edison Broadcasting.
Bidding for the 197-room hotel began at $5.5 billion and pitted two qualified bidders, Edison and New Jersey-based VBCE, a firm that owns hotels in Virginia, Maryland and Pennsylvania, along with several Dunkin Donuts locations, according to The Times of Trenton.
The former Trenton Marriott cost $60 million to construct and was opened in 2002. The winning bid by Edison, which owns several television and radio stations, is being considered by the Lafayette Yard Community Development Corp. and will be finalized pending approval by the agency. See story in The Times of Trenton.
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