Acquisition of Two Premier Marriott Branded Hotels

Acquisition of Two Premier Marriott Branded Hotels

calendar September 27, 2023

NEW YORK, Feb. 23, 2023 – JLL’s Hotels & Hospitality Group announced today that it has closed the sale of two Marriott brand hotels totaling 372 keys along the Hudson River in Weehawken, New Jersey.

JLL represented the seller, Veris Residential, in the all-equity sale to Navika Capital Group, LLC. The hotels were offered unencumbered by management.

The portfolio includes the 208-key EnVue Autograph Collection Port Imperial and the 164-key Residence Inn Port Imperial. The hotels, which opened in 2019 and 2018, respectively, operate under one building complex at the center of the $4 billion mixed-use development that is in the final phases at Port Imperial. The property features a collective 15,000 square feet of outdoor space, over 27,000 square feet of meeting and conference space, a fully equipped fitness center and unobstructed views of the New York City Skyline…..

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