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Kushner Cos. adds Princeton Marriott to portfolio

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The Princeton Marriott at Forrestal.
The Princeton Marriott at Forrestal. - ()

New York City-based Kushner Cos. announced Monday its acquisition of the Princeton Marriott at Forrestal from Lone Star Funds for $37.6 million.

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.

Additional Photos

The entrance to the Princeton Marriot at Forrestal.
The entrance to the Princeton Marriot at Forrestal. - (Photo / )

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Jessica Perry

Jessica Perry

Jessica is the Web Editor for NJBIZ. You can reach her at jperry@njbiz.com.

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