Kushner Cos. adds Princeton Marriott to portfolio
Financing for the project was provided by UBS through a $24 million, 10-year fixed rate commercial mortgage-backed securities loan, Kushner Cos. said
According to the real estate developer, the hotel at 100 College Road E. in Princeton recently underwent a $10 million renovation including updates to its 38,000 square feet of meeting spaces, public spaces and building systems.
Princeton Marriott’s other amenities include indoor tennis courts and swimming pool, the Iron & Ivy restaurant and a full service spa, among other features.
The addition of the Princeton Marriott is part of Kushner Cos.’ new hospitality platform. Led by Will Obeid, Kushner Cos. says part of its strategy for the practice is to acquire hotels with large conference accommodations.