Highline Hospitality Partners Acquires Hyatt Place/Hyatt House In Charleston For $113.1M

The property involved in the transaction is the dual-branded Hyatt Place/Hyatt House Charleston Historic District hotel, located at 560 King Street in Charleston, SC. The hotel features a total of 304 rooms, offering both extended-stay and standard accommodations. The sale price was $113,100,000, which equates to $372,039 per room. The asset also includes 16,000 square feet of retail and office space, a 398-space parking garage, as well as various shared amenities such as pools and meeting areas.

Summary of transaction details:

• Property Type: Hotel
• Transaction Amount: $113,100,000
• Buyer: Highline Hospitality Partners
• Seller: Union Investment
• Keys: 304
• Price Per Key: $372,039

Highline Hospitality Partners is the buyer in this transaction, having successfully acquired the hotel from Union Investment. This acquisition adds to Highline's portfolio of hospitality properties, while Union Investment has divested a significant asset in the Charleston market.