“Distressed” Stamford Marriott hotel site sells for $31.6M

HD Realty Associates LLC is parting ways with the Stamford Marriott site in Stamford. The firm sold the hotel on Tresser Boulevard to Stamford Hotel Propco LLC for $31.6 million, the Fairfield County Business Journal reported. The outlet noted the new owner will have to deal with the “distressed” property’s financial woes. The Stamford Marriott has an outstanding mortgage of around $60 million and has faced foreclosure. The hotel was built in 1975 and houses around 500 rooms and approximately 26,000 square feet of meeting space, according to the FBJ. It wasn’t immediately clear what Stamford Hotel Propco is going to do with the hotel site now that it’s purchased the property. [FBJ]