HEI CAMBRIDGE TO ACQUIRE HOTEL@MIT

CAMBRIDGE, MASS. — HEI Cambridge, an affiliate of HEI Hotels & Resorts, has agreed to acquire the 210-room Hotel@MIT from University Park Phase II Limited Partnership, a joint venture between Forest City and MIT. Located at 20 Sidney St. in Cambridge, the luxury full-service hotel anchors University Park at MIT. The hotel features 15,000 square feet of conference and meeting space and a range of amenities. Completion of the transaction is expected at year-end. MIT will continue its ownership of the land. The sale was brokered by Jones Lang LaSalle Hotels. The sale price was undisclosed.