ADVERTISEMENT
Tuscon, Ariz.-based TransWest Properties Inc. has added 899 rooms to its portfolio with the acquisition of the 487-room Westin La Paloma Resort and Spa and the 412-room Westin Hilton Head Island Resort and Spa from Starwood Hotels and Resorts.
The buyer acquired the 21-year-old La Paloma and the 22-year-old Hilton Head from $230 million in financing. The financing included a 10-year mezzanine loan, which carried a sub-7 percent interest rate. Starwood is headquartered in White Plains.
ÂÂ
