Thursday, 24 March 2016 10:07 | Written by MiBiz Staff | MiBiz
LANSING — An affiliate of a New York City-based investment firm has acquired a hotel in Lansing.
The property in question is the Hampton Inn hotel at 900 North Canal Road in Lansing, according to a statement from real estate research firm CoStar Group Inc.
The acquirer, an affiliate of New York City-based Lightstone Value Plus Real Estate Investment Trust III Inc., purchased the 86-room hotel for $10.5 million, or about $122,000 per room.
The time (at Blue Vault's 2nd Annual Broker Dealer Educational Summit) proved extremely informative.