The 131-room Hilton Garden Inn located on Harding Boulevard, near the Baton Rouge Metro Airport, has been purchased by New York-based Carey Watermark Investors, the firm announced this morning. It’s one of five Hilton brand hotels Carey Watermark has bought from Memphis-based Fairwood Capital LLC for $39.5 million. The other hotels in the deal are located in Georgia, Tennessee, Alabama and Texas. All five hotels, which were constructed between 1994 and 2004, have been substantially renovated between 2010 and 2012, according to a news release. Carey Watermark says the Hilton Garden Inn, which opened in 2005, will be managed by New Orleans-based HRI Lodging Inc. Carey Watermark Investors is a publicly registered, non-traded real estate investment trust that invests primarily in the lodging and lodging-related sectors.
Hilton near BTR sold to N.Y. investment firm
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