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 Blue Vault Summit could not have been more perfectly timed. This gathering of the Broker Dealer and Sponsor communities provided insightful and open discussion from several vantage points. These conversations are paramount, especially in a time of significant regulatory change.