July 8, 2020
Sunstone Hotel Investors have sold the 622-room Renaissance Harborplace in Baltimore. The sales price was $80 million. The buyer was not disclosed.
Located on the waterfront of Baltimore’s Inner Harbor, the property is nearby Gallery Mall, the National Aquarium and Oriole Park at Camden Yards.
“We are pleased to announce the sale of the Renaissance Harborplace,” said John Arabia, CEO at Sunstone. “The completed sale further concentrates our portfolio into long-term relevant real estate and increases our already considerable liquidity. Our company is well positioned to navigate the current environment and to capitalize on opportunities as they arise.”
Mark Elliott, Jay Morrow and Jeff Berkman of Hodges Ward Elliott represented Sunstone in the transaction.
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