posted on October 22, 2010 02:17
Westin City Center Dallas hotel has been sold to an undisclosed buyer for $50 million, according to seller, LaSalle Hotel Properties.
According to news reports, the hotel will join the Marriott brand.
LaSalle Hotel Properties expects a tax gain on the sale of $26.5 million, which will be offset by a tax loss on the sale of another property, Seaview Resort.
LaSalle Hotel Properties is a real estate investment trust that owns 33 upscale full-service hotels.
9/30/10, Dallas Business Journal