Edison-based Friendwell Group announced today it has purchased two hotels in transactions arranged by Connecticut-based Keystone Realty Capital. Financial terms were not disclosed.
Friendwell acquired the Hilton East Brunswick, with 405 rooms located within the 1.2 million-square-foot Tower Center office building. It includes more than 30,000 square feet of meeting space, including the largest New Jersey ballroom outside Atlantic City.
The company also acquired the DoubleTree Somerset, which has 364 rooms within an 840,000-square-foot office park. This hotel includes more than 27,000 square of meeting space and is adjacent to the Garden State Exhibit Center.
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