Hersha Hospitality Trust makes purchases

Harrisburg-based Hersha Hospitality Trust purchased the 134-room Holiday Inn-Norwich in Connecticut for $16.1 million July 1.

Harrisburg-based Hersha Hospitality Trust purchased the 134-room Holiday Inn-Norwich in Connecticut for $16.1 million July 1.

In other news, Hersha acquired Hotel 373 in Manhattan, N.Y., for $28 million June 1. The hotel has 70 rooms.

Hersha also purchased two land parcels in Brooklyn, N.Y, for $11.3 million. The parcels will be used to develop an all-suite hotel. The company also issued a $15 million loan for a hotel in Lower Manhattan. Hersha has the first right of offer on each of these hotels. Hersha is a real estate investment trust that owns interests in 73 hotels mostly on the East Coast.

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