Carey Watermark Investors 2 Completes $154 Million Acquisition of San Jose Marriott

Carey Watermark Investors 2? | July 14, 2016

NEW YORK, July 14, 2016 -- Carey Watermark Investors 2 Incorporated (CWI 2), a non-traded real estate investment trust (REIT) focused on investing in lodging and lodging-related properties, announced that it has acquired the San Jose Marriott. The recently renovated hotel includes 510 guestrooms and is located in downtown San Jose, CA, one of Silicon Valley's strongest lodging markets. The acquisition price was $154 million ($302,000 per key) and has been financed with $88 million of senior debt. Key Facts Recently renovated, high-quality asset: The high-quality 27-story hotel was built in 2004 and is located in a prominent area o...