Photo Credit: Banker & Tradesman
Another building trade is scheduled to take place in Back Bay.
Banker & Tradesman reports, “Sunstone Hotel Investors Inc. will buy the Boston Park Plaza Hotel & Towers for $250 million from an ownership group that includes Donald Saunders and Rockpoint Group…During the company’s anticipated 2013 ownership period, Sunstone expects the hotel to generate between $6.5 million and $8 million of hotel net operating income. Highgate Hotels will continue to manage the property.”
Follow the link to read the Banker & Tradesman article on the sale of the Boston Park plaza.