RALEIGH, NC—Concord Hospitality Enterprises, headquartered here, said Monday it had sold a portfolio of 13 select-service hotels, including 11 with Marriott brands and two Hilton-branded, for a total of about $240 million in cash. The buyers were not identified, except as “companies owned by a global investment fund,” nor were the locations of the assets themselves.

Crain’s Cleveland Business reported earlier this month that Concord had sold the Hampton Inn Cleveland Downtown for $19.8 million to an entity known as Black Sapphire C Cleveland 2014 Inc. According to Delaware state records, Black Sapphire C Cleveland was one of more than a dozen C corporations that were incorporated in the state on Jan. 9 under the Black Sapphire name.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.