indianapolis marriott downtown
White Lodging Completes Purchase of Indianapolis Marriott Downtown; Extensive Renovation Planned for Early 2017
White Lodging Services Corporation | July 18, 2016
MERRILLVILLE, Ind., July 18, 2016 -- The original developer of the Indianapolis Marriott Downtown closed last week on the purchase of the hotel, reacquiring a property it developed and opened more than 15 years ago. Affiliates of White Lodging Services Corporation and REI Investments purchased the 622 room hotel and plan an extensive renovation for the hotel, scheduled to begin in the first quarter of 2017. While White Lodging has managed the hotel since its inception, the reacquisition allows for the company to keep the property in its portfolio for years to come. "This acquisition is a reaffirmation of our long term commitment an...
LaSalle Hotel Properties Enters Agreement to Sell the Indianapolis Marriott Downtown to White Lodging & REI Investments for $165 million
LaSalle Hotel Properties | June 2, 2016
BETHESDA, Md.- June 2, 2016-LaSalle Hotel Properties (NYSE: LHO) today announced that it has entered into a definitive contract to sell Indianapolis Marriott Downtown to affiliates of White Lodging Services Corporation and REI Investments for $165 million. The Company acquired the hotel in February 2004 for $106 million. The Company expects the transaction to close early in the third quarter 2016. The transaction is subject to customary closing conditions. Proceeds from the transaction will be used to reduce borrowings on the Company's senior unsecured credit facility. ...
