PALM BEACH, FL–– Innkeepers USA Trust has acquired a 49% interest in the Sheraton Capital Center Hotel in Raleigh, NC. The property was purchased as part of a joint venture with Miami-based Gencom Group for approximately $42 million, $5 million of which will go toward renovations for the hotel that are slated to begin in the near future. The 355-room Sheraton Capital Center Hotel is attached to the Hanover Office Building in Raleigh and is within walking distance to the citys Convention and Conference Center. The property includes a full-service restaurant, lounge, coffee bar, indoor pool, fitness facility and business center.
