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Hersha sells interest in “non-core” Rhode Island hotel

By , - Last modified: February 6, 2013 at 11:23 AM

Hersha Hospitality Trust has sold its interest in a Courtyard by Marriott in Rhode Island to its joint venture partner, according to a news release.

The 92-room hotel is in Warwick, R.I., the release stated.

The deal removes a "non-core" asset from Hersha's portfolio to concentrate on key urban gateway markets, according to the release.

Hersha, with corporate offices listed in Harrisburg and Philadelphia, sold the 66.7 percent interest in a transaction valuing the property at $7.15 million, the release stated.

Shares of Hersha are traded on the New York Stock Exchange under the ticker symbol HT.

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