Greenwich realty investor Wheelock Street Capital paid $116 million for 12 hotels, two of which are in the Raleigh area of North Carolina, The Raleigh (N.C.) News & Observer reports.
The properties were part of a hotel portfolio in the Southeast, Texas, Illinois and Arizona that Wheelock bought from Inland American Real Estate Trust, Newsobserver.com reports.
In North Carolina’s Triangle region, Wheelock paid $15.18 million for the 137-room Homewood Suites, behind Crabtree Valley Mall, and $9.2 million for the 129-room Hampton Inn just off U.S. 1 in Cary, newsobserver.com reports, citing Wake County, N.C., property records.
Inland had acquired the two Triangle hotels as part of its $834 million acquisition of Winston Hotels in 2007, the paper said.
