SOUTHFIELD, MI-Boykin Lodging Company, a hotel real estate investment trust, has exchanged properties with Hilton Hotels, including the DoubleTree hotel here.
In the transaction, Boykin transferred ownership of its Cleveland Marriott East in Beachwood, OH, to Hilton, which will convert the hotel to the Hilton brand. In exchange, Boykin obtained from Hilton two hotels; one in San Antonio, TX, and the other, an all-suite hotel here.
The ten-story building features 7,800 sf of meeting space and an enclosed atrium. Boykin plans to spend $5.5 million to return the DoubleTree facility to an Embassy Suites.