A Maryland-based hotel REIT is buying the 393-room James Royal Palm for $707,379 per key .
February 23, 2015 at 04:00 PM
1 minute read
A Maryland-based hotel real estate investment trust is buying South Beach’s 393-room James Royal Palm for $278 million.
Annapolis-based Chesapeake Lodging Trust, which has a portfolio of 20 high-end hotels across the United States, said Thursday it has a definitive agreement to acquire the property. The price works out to $707,379 per room.
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