Photo via Qandc.com
The Queen & Crescent Hotel at 344 Camp Street was sold for $51.2 million two weeks ago.
KBS Strategic Opportunity REIT II, which purchased the property from Northview Hotel Group of Connecticut along with Encore Hospitality of Dallas, according to Orleans Parish conveyance records.
Encore paid roughly $261,200 per key for the 196-room hotel.
According to the company’s website, this looks like its first acquisition in Louisiana, although they have large real estate holdings throughout the southeast.
Northview bought the building in 2013 for $20 million and immediately undertook a renovation of the property, including guest rooms, lobby, bar, and branding. KKAD of New Jersey and MetroStudio Architects of New Orleans were the architects on the project, and Case and Associates of Houston was the General Contractor for the 28,000 square foot renovation.
The hotel will be added to the Marriott reservation system under the Autograph Collection flag.
[This article was updated to include new information about the buyer, the new Marriott flag, and the architectural team].