The Premier Group acquired a Marriott Residence Inn at 170 Broadway in Lower Manhattan from the Carlyle Group, Crown Acquisitions and Highgate Hotels for $150 million.
The 18-story property near Maiden Lane was recently converted into a 228-room hotel from an office building. The hotel is slated to open in January. The Bahrain-based buyer also owns the Four Seasons Hotel that is now under construction at 30 Park Place. [more]