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Local Investor Buys Embassy Suites


The locally based SREE Hotels aquired Embassy Suites-Charlotte for $32M, or about $117k/key. The 274-unit property rises eight stories at 4800 S Tryon, not far from Charlotte Douglas International Airport. The buyer will invest $8M toward renovations, reports CoStar. The seller, Texas-based FelCor Lodging Trust, developed the property in 1998. [CoStar]