LOS ANGELES— Lowe Enterprises Investment Management (LEIM) has acquired the Dolce Hamilton Park in Florham Park, New Jersey and Dolce Tarrytown House in Tarrytown, New York. AEW Capital Management (AEW) sold the properties on behalf of one of its institutional clients. The properties will be renamed the Hamilton Park Hotel and Conference Center and the Tarrytown House Estate and Conference Center and managed as independent properties by Destination Hotels and Resorts (Destination), a LEIM affiliate. The 219-room Hamilton Park was built in 1989 and has recently undergone $5.8 million in renovations including all guestrooms and public corridors, as well as the addition of high-speed Internet access throughout the property. The 209-room Tarrytown House was originally built in 1840 and developed in phases over the years, becoming one of the countrys first conference centers four decades ago. A $15 million renovation of the property was completed in 2001, which included a new guestroom wing, a guest registration area, additional parking and an overall reconfiguration of the property layout. “These acquisitions are excellent examples of our ongoing objective to seek strong, quality hotel assets throughout the United States,” said Bernard Siegel, executive vp of hotel investments for Lowe in a statement. “In addition, we plan to make renovations at both properties to continue to enhance their value and appeal to our customers.” Meeting room enhancements are scheduled for the Hamilton Park hotel and Lowe plans to renovate all guest rooms and meeting space at Tarrytown House.
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