HERSHA BUYS REMAINING INTEREST IN 130-ROOM COURTYARD BY MARRIOTT

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EWING, N.J. — Hersha Hospitality has purchased the remaining 50 percent interest in a 130-room Courtyard by Marriott in Ewing, a submarket of Princeton. Philadelphia-based Hesha has been part of an unconsolidated joint venture in the hotel since 2004. The company has repaid the first mortgage and entered into a $9 million revolving line of credit for the property. The deal entitles Hersha to all profits and losses from the hotel as of the third quarter of 2012.

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