LOWE ENTERPRISES BUYS ROYAL ST. CHARLES HOTEL IN NEW ORLEANS

NEW ORLEANS — Lowe Enterprise Investors has acquired the Royal St. Charles, a 143-room hotel in New Orleans, on behalf of an investment client. The hotel is located at 135. St. Charles Ave., between the city’s French Quarter and the New Orleans Convention Center. Destination Hotels & Resorts, an affiliate of Lowe Enterprise Investors, will manage the property as an independent, boutique hotel. The 10-story hotel features 2,610 square feet of meeting space, a fitness center and a PJ’s Coffee and Café eatery. The hotel also features balconies overlooking St. Charles Avenue, which is on the primary Mardi Gras parade route. Russell Munn of Lowe Enterprise Investors and Rick Rush of Lowe Hospitality Group led the acquisition team in the transaction. Larry Wolfe and Adam Etra of Eastdil Secured represented the seller, a joint venture between Clearview Hotel Capital and WHI Real Estate Partners.