April 13–A Blackstone Group affiliate has acquired a portfolio of four Club Quarters hotels, including one in Philadelphia, according to Hartford-based Cornerstone Real Estate Advisors, which originated a $335 million loan for the deal.
In addition to the 275-room Club Quarters Philadelphia at 1628 Chestnut St., the package includes hotels in San Francisco, Boston and Chicago, Cornerstone said in a release on Tuesday.
The properties, consisting of 1,228 guest rooms in total, have received more than $16 million in capital investment since 2009, Cornerstone said.
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