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Convention Center Hotel Fetches $170M


NYC-based Carey Watermark Investors 2 acquired the 403-room Embassy Suites by Hilton Denver Downtown-Convention Center for $170M. The property at 1420 Stout St, which is adjacent to the Colorado Convention Center, last traded hands when Cornerstone Real Estate Advisors, acting on behalf of Downtown Denver Hotel LLC, bought it for $134M in July 2012, the Denver Business Journal reports. Sage Hospitality will continue to manage the property. [DBJ]