MOUNT LAUREL, NJ-Hotel REIT Highland Hospitality Corp. has soldthe Radisson Mount Laurel here for $31.6 million. The soon-to-berebranded under the Marriott flag site sold to an unnamedbuyer.
The purchase price for the 283-room asset, currently finishingrenovations, works out to $110,660 per room. Highland purchased thesite for $14 million in September 2004 and instituted a more than$7-million upgrade to the site. The transaction is expected toclose on June 30.
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