Raleigh-based Concord sells 13 properties for $240M

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concord hospitlity

Raleigh-based Concord Hospitality Enterprises has sold 13 of its properties to a global investment fund for a reported $240 million, reports Triangle Business Journal.
The all-cash transaction also includes a long-term management agreement with Concord’s hotel management team to continue operating the properties.
The portfolio is comprised of 1,650 hotel rooms representing 11 Marriott and two Hilton-branded hotels in six states.
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