Jones Lang LaSalle Hotels group announced the sale, which closedin late June. The hotel, located at 670 White Plains Rd., features444 guestrooms, approximately 26,000 sf of meeting space, an indoorswimming pool with retractable sky roof, whirlpool, sauna, beautyshop and gift shop as well as a number of restaurants and food andbeverage outlets.

Morgan Stanley had implemented approximately $11 million inupgrades to the hotel in the past two years to transform it into abest-in-class asset, says Amelia Lim, senior vice president ofJones Lang LaSalle Hotels. "The market responded very favorably tothe opportunity to leverage the recent renovations and WestchesterCounty's booming economy, as well as to acquire a highly-desirableMarriott-managed asset."

Jones Lang LaSalle Hotels EVP Alan Tantleff says the deal isanother indication of the hot sales market for hotels in the NewYork City region. "There is strong demand for hotels in suburbanNew York due to the strong fundamentals and limited land for futurehotel construction," he adds. Jones Lang LaSalle represented MorganStanley and procured the buyer in the transaction.