Electra America Hospitality Group Snaps Up The Roger New York Hotel for $19M

Excerpt from the Commercial Observer website: Electra America Hospitality Group has snapped up The Roger New York hotel in Midtown for $19 million, Commercial Observer has learned.

The company — a joint-venture between Florida-based Electra America and AKA Hotel Residences — closed on the sale of the leasehold interest of the 193-room hotel at 131 Madison Avenue from Pebblebrook Hotel Trust on Tuesday, sources said. Electra was able to nab the hotel at a nearly $71 million discount from when it last traded hands in 2010.

Read the full article here: