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Lansing hotel acquired by New York City firm

March 29, 2016

Thursday, 24 March 2016 10:07 | Written by  MiBiz Staff | MiBiz

LANSING — An affiliate of a New York City-based investment firm has acquired a hotel in Lansing.

The property in question is the Hampton Inn hotel at 900 North Canal Road in Lansing, according to a statement from real estate research firm CoStar Group Inc.

The acquirer, an affiliate of New York City-based Lightstone Value Plus Real Estate Investment Trust III Inc., purchased the 86-room hotel for $10.5 million, or about $122,000 per room.

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Gregory De Jong, CFP, Co-Founder of Paragon Advisors, LLC.
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Blue Vault is just what advisors need to size up the different offerings in the nontraded REIT market. Just as importantly, it’s what the industry needs to encourage best practices among REITs.