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TUCSON, ARIZ. — Starwood Hotels & Resorts has sold the 154-room Aloft Tucson University Hotel to Lightstone Value Plus Real Estate Investment Trust II for $19 million. The hotel is located at 1900 E. Speedway Blvd., next to the University of Arizona in Tucson.
The hotel will remain under the Aloft Hotels flag. It will be managed by Island Hospitality Management. The public, non-traded REIT is sponsored by The Lightstone Group. Starwood was represented by Bill Murney and Mike Cahill of HREC Investment Advisors.