Summit Hotels Lands $53M Courtyard by Marriott in Charlotte
BySummit Hotel Properties Inc. completed the acquisition of the 181-key Courtyard by Marriott Charlotte City Center for $56.3 million and entered into a management agreement with OTO Development LLC. Summit Hotel Properties, partially funded the acquisition of the Courtyard by Marriott Charlotte City Center through recycling the capital from a non-core asset sale.
Located at 237 South Tryon St., in the heart of Charlotte‘s uptown financial and entertainment district, the hotel provides access to the Bank of America corporate headquarters. Courtyard by Marriott Charlotte City Center is located across the street from Wells Fargo’s east coast operations headquarters and blocks from the Charlotte Convention Center and the NASCAR Hall of Fame. The hotel includes a fitness center, an outdoor swimming pool and more than 2,200 square feet of meeting and event space…
