Paul Hastings Represents Carey Watermark Investors, Inc. in Three Hotel Acquisitions
July 25, 2012
Los Angeles, CA (July 25, 2012) - Paul Hastings LLP, a leading global law firm, announced today that the firm represented Watermark Capital Partners and its real estate investment trust (REIT), Carey Watermark Investors, Inc. in the acquisitions of the Hampton Inn Boston/ Braintree, The Hilton Garden Inn in New Orleans French Quarter/ Central Business District and the acquisition of a 97% interest in Lake Arrowhead Resort & Spa in Lake Arrowhead, California.
Carey Watermark Investors (CWI) acquired The Hampton Inn Boston/Braintree, a 4-story, 103 room select-service hotel in Braintree, Massachusetts on June 1, 2012. The property will be managed by StepStone Hospitality. CWI's investment in the property will be approximately $15.5 million inclusive of a $1.9 million renovation that will be
Paul Hastings also advised CWI in completing a
Lastly, the firm advised on CWI's acquisition of a 97% interest in Lake Arrowhead Resort & Spa from the property owner, Fulton Village Green Investors, LLC, an affiliate of Pacific Capital Investors on July 9, 2012. The 173-room resort and spa is located in Lake Arrowhead, California. The investment by CWI includes a
Paul Hastings chair of Resort, Restaurant & Recreation and Real Estate partner
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