Dec

RLJ Sells Luxury Boston Hotel for $170M

The historic Fairmont Copley Plaza, which dates back to 1912, sold for $444,000 per key, representing a 4.6 percent cap rate on the hotel’s 2017 NOI.

RLJ Lodging Trust, of Bethesda, Md., has sold the historic 383-key Fairmont Copley Plaza in Boston for $170 million, or about $444,000 per key.

RLJ did not respond to Commercial Property Executive’s request for additional information. The buyer appears to have been Paris-based Accor Hotels, but CPE was unable to reach Accor to confirm this…

Categories : Commercial Real Estate

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RLJ Sells Luxury Boston Hotel for $170M

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