ATLANTA-A joint venture of locally based Hospitality Venturesand Columbus, OH-based RockBridge Capital LLC has acquired fourEmbassy Suites and one Sheraton Suites hotels with a total of morethan 1,000 rooms. The purchase price was $86 million, whichtranslates to approximately $85,000 per room.

The properties, which were acquired from affiliates of FelCorLodging Trust, were the 130-room Embassy Suites Brunswick at 500Mall Blvd. in Brunswick, GA; the 279-room Embassy Suites DallasPark Central at 13131 N. Central Expressway in Dallas; the 251-roomEmbassy Suites Detroit-Troy/Auburn Hills at 850 Tower Dr. in Troy,MI; The 244-room Embassy Suites Tulsa at 3832 S. 79th East Ave. inTulsa, OK and the 155-room Sheraton Suites Lexington and FrenchQuarter Square Retail Center at 2601 Richmond Rd. in Lexington,KY.

The joint venture plans to do $30 million in renovations to theproperties over the next several months. The Embassy SuitesBrunswick has 3,328 sf of meeting space, the Embassy Suites DallasPark Central has 7,770 sf of meeting space, the Embassy SuitesDallas-Troy/Auburn Hills has more than 5,000 sf of meeting space,Embassy Suites Tulsas has more than 4,000 sf of meeting space andthe Sheraton Suites Lexington and French Quarter Square RetailCenter has more than 7,000 sf of meeting space and 37,000 sf ofretail space.