One of our Hotel 18 and its affiliate have sold to a NY-based real estate investor. The Renaissance New Orleans Arts sold for $14.25M, while the Renaissance Pere Marquette was purchased for $20.5M by Richard Hadar. In all, Hadar is swooping up 482 rooms spanning the buildings at 700 Tchoupitoulas and 817 Common St. Both were purchased in December and both are Marriott properties.
· Two downtown hotels sell for nearly $35 million [NOLA City Business]
· Sold! [Curbed NOLA]