News: Rhode Island
Posted: July 8, 2016
Lightstone acquires 92-room hotel in Warwick for $12.4 million
Courtyard Providence Warwick by Marriott - Warwick, RIWarwick, RI Lightstone Value Plus Real Estate Investment Trust III, Inc. (LVPR III) acquired Courtyard Providence Warwick by Marriott, a 92-room select-service hotel, for $12.4 million. LVPR III has obtained a 15-year franchise agreement from Marriott commencing upon acquisition.
The recently renovated property is located near the Rhode Island Convention Center. It’s also located four miles from the Green Airport, a reliever airport for Boston’s Logan Airport.
The property will be managed by Waterford Hotel Group overseen by Lightstone’s hospitality division.
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