CHARLESTON, SC
A 176-room hotel in the historic district here has been sold to a real estate investment trust. RLJ Lodging Trust paid $42 million to buy the Courtyard by Marriott Charleston Historic District.
The previous owner, Noble Investment Group, bought the hotel in May, 2010 and operated it as a Holiday Inn until late that year, when it was closed for renovations. The hotel reopened as a 123-room Courtyard by Marriott in March of this year. The company also bought property adjacent to the hotel, where it constructed a new tower, completed this month, that added 53 rooms and 2,100 square feet of meeting space.
RLJ now owns 141 hotels in 20 states and Washington, D.C. The purchase gives the company its first property in South Carolina.
