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Beacon Hill’s Liberty Hotel sells for $170M

LaSalle Hotel Properties has purchased a majority stake in Beacon Hill’s 298-room Liberty Hotel, the former Charles Street Jail.

The price is eye-poppping, coming out to about $570,000 per room, but the income stream is apparently quite good and consistent for the six-year-old Liberty Hotel. The good news: The original developer, Carpenter & Co., will remain within the ownership team, so don’t expect big changes at the hotel.

File under: It’s a steal!