Thursday, March 15, 2012

Rittenhouse Hotel Sold for $42M

"A joint venture between Rittenhouse Development Company and GE Investment Corporation has sold its 111 -room Rittenhouse Hotel to Hersha Hospitality Trust for $42 million, or about $378,000 per key.

210 W. Rittenhouse Sq. in Philadelphia, PA is a 27-story, 200,000-square-foot hospitality facility that features 10,000 square feet of ground-floor retail. It was constructed in 1989 in Philadelphia County."

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