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JULY 24, 2019

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Banyan Investment Group acquires three-hotel portfolio for $50m

by Andrea Zander

Banyan Investment Group, a hotel investment and management company that acquires and manages select-service hotels in the United States, has acquired a three-hotel portfolio of Marriott- and Hilton-branded hotels located in Madison, Wis., for approximately $50 million.

The company will operate the portfolio, comprising the 127-room Courtyard by Marriott Madison East, 130-room Fairfield Inn & Suites Madison East and 115-room Hampton Inn Madison East Towne Mall area.

“In addition to expanding our footprint into the Great Lakes region, this portfolio aligns perfectly with our strategy of targeting strong markets with multiple demand generators that are well positioned to weather all phases of the economic cycle,” said Andy Chopra, founding principal and chief investment officer, Banyan Investment Group.

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