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HEI Hotels and Resorts is purchasing Hotel@MIT, a 210-room hotel in Cambridge, Mass., that has been co-owned by the Massachusetts Institute of Technology and Forest City Enterprises Inc.
It is Norwalk-based HEI”™s first property in Massachusetts. The companies did not immediately disclose transaction terms.
MIT retains ownership of the hotel”™s land, which is adjacent to its main campus. The hotel was completed in 1998, and Cleveland-based Forest City subsequently developed an office park next to the hotel.
In October, HEI acquired the 255-room Westin St. Louis for $54 million.
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